Sector News

AstraZeneca signs $1.5 bln deal with Allergan

October 3, 2016
Life sciences

AstraZeneca PLC said on Monday that it has signed a deal with Allergan PLC AGN, +0.05% worth up to $1.52 billion through its global biologics research and development unit.

The bio-pharmaceutical company said that under the deal, Allergan will have the global rights to an antibody for Crohn’s disease.

Allergan will pay upfront $250 million, but it may also make some payments to AstraZeneca worth up to $1.27 billion, depending on how good the sales of the antibody are, the company said.

By Olga Cotaga

Source: MarketWatch

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