AstraZeneca in cancer deal with Daiichi Sankyo


LONDON (AP) — Shares in drug maker Daiichi Sankyo soared after AstraZeneca agreed to pay the Japanese company up to $6.9 billion as part of an agreement to develop and market a potentially “transformative” cancer treatment.

The companies said Friday they will jointly develop trastuzumab deruxtecan and market it worldwide, except in Japan where Daiichi Sankyo will have exclusive rights. Daiichi Sankyo, which designed the targeted cancer treatment, will be responsible for manufacturing and supply.

AstraZeneca CEO Pascal Soriot says the drug “could become a transformative new medicine” for some breast and gastric cancers.

AstraZeneca will pay Daiichi Sankyo Co. $1.35 billion, plus another $5.6 billion if it meets regulatory and sales milestones.

Daiichi shares rose 15.9 percent to 5,100 yen. AstraZeneca fell 6.9 percent to 6,050 pence in midday London trading.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
New York City