AZ Divests Arimidex And Casodex Rights To Juvisé
Banks Upfront Payment Of $181m
Selling off the two cancer drugs to the French firm is the latest example of AstraZeneca's strategy of reducing its portfolio of mature assets to boost its R&D budget.
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Allergan is selling its Crohn’s disease and ulcerative colitis drug brazikumab back to AstraZeneca to satisfy regulators ahead of its link-up with AbbVie, essentially giving the asset to the UK major for free.
Deal with Pfizer makes for Theravance’s third large pharma partnership since 2016. AbbVie off-loads Marinol to India’s Alkem, Bausch licenses candidate for rare form of dry eye disease from Novaliq.
Private Company Edition: The industry raised $28bn in venture capital through the third quarter, breaking the record $27.4bn raised last year. Also, big pharmas backed a start-up lab in Israel, plus mega-rounds for CinCor Pharma ($143m) and Rectify Pharmaceuticals ($100m), while Cerecin raises $40m.