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Japan’s Kyowa Hakko Sells Amgen Drug Rights For $520 Million

This article was originally published in PharmAsia News

Executive Summary

Kyowa Hakko Kogyo has agreed to sell the rights to a key cancer and inflammation drug it is developing to Amgen for $520 million. The U.S. biotech is to pay Japan's Kyowa $100 million up-front and the rest during development of humanized monoclonal antibody KW-0761. Under the arrangement, Kyowa subsidiary Kirin Holdings is to retain rights to develop and sell the drug in Japan, South Korea, China and Taiwan, and Amgen elsewhere in the world. The drug is in Phase I trials on lymphoma patients. (Click here for more

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