Valeant licenses AZ's brodalumab

AstraZeneca plc (LSE:AZN; NYSE:AZN) granted Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) an exclusive, worldwide license to develop and commercialize brodalumab ( KHK4827), excluding certain Asian territories.

AZ will receive $100 million up front and is eligible for $345 million in milestones. Valeant will cover development and regulatory costs, and the partners would share profits if brodalumab is approved. ...