Daiichi Sankyo, AstraZeneca sign $6.9 billion cancer drug deal
FILE PHOTO: A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014. REUTERS/Phil Noble/File Photo
The news sent Daiichi’s shares soaring 16 percent, its daily limit, to a record in morning Tokyo trading on Friday. Daiichi’s shares have climbed 45 percent this year as investor expectations for the drug rise. Daiichi is the latest Japanese drugmaker to strike such a deal to gain access to a bigger overseas player’s R&D and sales clout.
The two drugmakers have a long-standing relationship which includes a 2015 agreement to jointly commercialize constipation drug Movantik in the United States.
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