AstraZeneca to Get $130 Million Payment as Psoriasis Drug Siliq Gets FDA Approval
February 16 2017 - 8:29AM
Dow Jones News
By Razak Musah Baba
LONDON--Valeant Pharmaceuticals International Inc. (VRX) will
make a $130 million milestone payment to AstraZeneca PLC (AZN)
following the U.S. Food and Drug Administration's approval of
AstraZeneca's psoriasis drug, Siliq.
AstraZeneca has granted Valeant, an expert in dermatology, the
exclusive license to develop and commercialize Siliq globally,
except in Europe, Japan and some other Asian countries.
Under the terms of the agreement, AstraZeneca will receive $130
million from its U.S. partner after the first regulatory
approval.
The FDA has approved Siliq (brodalumab) injections for the
treatment of moderate-to-severe plaque psoriasis in adults.
AstraZeneca and Valeant are set to share profits from Siliq
sales in the U.S.
AstraZeneca shares at 1220 GMT were down 1.7 pence, or 3.6%, at
45.15 pounds, valuing the company at GBP57.11 billion ($71
billion).
-Write to Razak Musah Baba at razak.baba@wsj.com
(END) Dow Jones Newswires
February 16, 2017 08:14 ET (13:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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