Astra to Pay Daiichi Up to $6 Billion for New Cancer Drug
- U.K. drugmaker to pay $1 billion upfront in three installments
- Daiichi medicine shows promise in breast, lung, other cancers
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AstraZeneca Plc agreed to pay as much as $6 billion to buy into Daiichi Sankyo Co.’s promising medicine for lung and breast cancer, the drugmakers’ second potential blockbuster oncology deal in two years. The news sent Daiichi shares jumping the most since March.
The U.K. drugmaker will pay Japan’s Daiichi $1 billion upfront to jointly develop and bring to market a cancer therapy in early clinical tests called DS-1062, the companies said Monday. As much as $5 billion in additional payments could follow, subject to regulatory and sales milestones.