Summit Said in Talks for $15 Billion Partnership With Astra (1)

AstraZeneca Plc is discussing a partnership deal with Summit Therapeutics Inc. in which it could pay as much as $15 billion over time to license a lung-cancer drug, according to people familiar with the matter.

The companies have been holding talks regarding the potential partnership over Summit’s ivonescimab treatment, the people said, asking not to be identified because that matter is private. Summit has also held discussions with other major pharmaceutical firms, the people said.

Terms are still being ironed out, but the consideration could include a several billion dollar upfront payment and several milestone payments that Summit could receive ...