|
 Amgen pulled out of the project because suicidal thoughts were
observed in some patients taking the medicine, casting a shadow over
its prospects.
Valeant said on Tuesday it would make an upfront payment of $100
million to AstraZeneca, and additional pre-launch milestone payments
of up to $170 million and sales-related milestone payments of up to
$175 million following the launch.
Regulatory submissions in the United States and Europe for
brodalumab in moderate-to-severe psoriasis are planned for the
fourth quarter of 2015.
The arrangement excludes Japan and certain other Asian countries
where rights to the drug are held by Kyowa Hakko Kirin Co <4151.T>.
Brodalumab belongs to a class of drugs called IL-17 inhibitors that
work by blocking a signaling pathway that plays a key role in
inducing and promoting inflammatory diseases. Psoriasis is a chronic
autoimmune disease in which the growth cycle of skin cells is
accelerated.
[to top of second column] |
AstraZeneca said the deal, which is expected to complete in the
fourth quarter of 2015, would not materially impact its financial
forecasts for 2015. Income from the upfront and milestone payments
will be reported as "externalization revenue".
(Reporting by Ben Hirschler in London and Supriya Kurane in
Bengaluru; Editing by Gopakumar and David Clarke)
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