Merck To Pay as Much as $22 Billion for Daiichi Sankyo’s Cancer Drugs
- Merck will co-develop three ADC cancer drugs with Daiichi
- Deal with Merck comes after Daiichi’s Enhertu success
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Merck & Co. agreed to buy the rights to sell Daiichi Sankyo Co.’s three experimental cancer drugs, looking to sustain its dominance in treatment of the deadly disease.
Daiichi rose 14% Friday after Merck agreed to pay $4 billion upfront and as much as $22 billion to develop and market the drug candidates. One them is them slated to seek US approval by March 2024, the company said. Daiichi will retain the rights for the drugs in Japan.