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AstraZeneca Bets $6.9 Billion in Japan Cancer Therapy Deal (3)

March 29, 2019, 11:36 AM

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 March 28. They will also equally split development and commercialization costs.

The deal fuels a race among big drug companies ...