The Anglo Swedish drug maker AstraZeneca could pay $6bn (£4.7bn) for the global rights to a new Japanese cancer treatment.
The pharmaceutical giant said they will pay $1bn up front to their new partner, Daiichi Sankyo. AstraZeneca also promised to pay $1bn should the new drug be approved, also they will pay $4bn extra if the drug sells as they hope.
The drug called DS-1062 targets the Trop2 protein which is overproduced by breast and lung cancers, which is yet to be approved by regulators.
AstraZeneca chief executive Pascal Soriot said, “We see significant potential in this antibody drug conjugate in lung as well as in breast and other cancers that commonly express Trop2.”
Soriot said, “We are delighted to enter this new collaboration with Daiichi Sankyo and to build on the successful launch of Enhertu to further expand our pipeline and leadership in oncology.”
He added, “We now have six potential blockbusters in oncology with more to come in our early and late pipelines.”
Daiichi Sankyo are to keep exclusive rights to the new cancer drug in the Japanese market place.
Daiichi Sankyo chief executive Sunao Manabe said, “This new strategic collaboration with AstraZeneca, a company with extensive experience and significant expertise in the global oncology business, will enable us to deliver DS-1062 to more patients around the world as quickly as possible.”