Deals
AstraZeneca Bets $6.9 Billion in Japan Cancer Therapy Deal
- U.K. drugmaker to fund investment with $3.5 billion share sale
- CEO Soriot wants company to become global oncology leader
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AstraZeneca Plc forged its biggest deal in more than a decade, agreeing to pay as much as $6.9 billion to buy into a promising Japanese cancer treatment as part of its push to become a global oncology powerhouse.
AstraZeneca will pay the Japanese drugmaker Daiichi Sankyo Co. $1.35 billion upfront to jointly develop and commercialize the cancer therapy trastuzumab deruxtecan, with as much as $5.6 billion in additional payments subject to sales milestones and other contingencies, the companies said late Thursday. They will also equally split development and commercialization costs.