AstraZeneca Licenses Drugs to LEO Pharma, Ends Valeant License
July 01 2016 - 3:03AM
Dow Jones News
By Tapan Panchal
LONDON--AstraZeneca PLC (AZN.LN) agreed with LEO Pharma A/S to
license two new medicines used for the treatment of skin diseases,
terminating a license with an affiliate of Canada's Valeant
Pharmaceuticals International Inc. (VRX.T) in the process.
The U.K. pharmaceutical company said on Friday that it has
granted a global license to LEO Pharma for tralokinumab, a new
medicine used for the treatment of inflammatory skin disease atopic
dermatitis.
Under the terms of the tralokinumab agreement, Leo will make an
upfront payment to AstraZeneca of $115 million and will pay up to
$1 billion in commercially-related milestones and up to mid-teen
tiered percentage royalties on product sales.
AstraZeneca has also agreed to give LEO Pharma the exclusive
European license to brodalumab, a treatment of moderate-to-severe
plaque psoriasis, previously held by a Valeant affiliate.
The licensing agreements don't impact financial guidance for
2016, AstraZeneca said.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
July 01, 2016 02:48 ET (06:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.