Hutchison China, AstraZeneca deal

AstraZeneca and Chi-Med amended their 2011 deal to co-develop savolitinib ( AZD6094). Chi-Med now will contribute up to $50 million over three years to support Phase III development of the candidate to treat papillary renal cell carcinoma. In return, Chi-Med’s royalty on ex-China sales of the candidate will increase to 14-18% from 9-13%. The royalty will decrease incrementally to 10.5-14.5% after savolitinib sales reach $5 billion. Other details of the 2011 agreement remain unchanged. ...