AZ regains brazikumab rights as AbbVie paves way for closure of $63B takeout of Allergan
AstraZeneca is regaining a late-stage immunology program from Allergan in a deal designed to clear the way for U.S. and EU regulators to approve AbbVie’s $63 billion takeover of Allergan.
AstraZeneca plc (LSE:AZN; NYSE:AZN) told BioCentury that it will not pay anything to regain the worldwide rights to brazikumab, which comes a little more than three years after out-licensing the anti-IL-23 mAb to Allergan plc (NYSE:AGN) for $250 million up front and up to $1.3 billion in milestones. Allergan will fund up to an undisclosed amount of development costs for the compound, which AZ said it estimates to be the total costs it expects to incur through completion of development in ulcerative colitis and Crohn’s disease, including development of a companion diagnostic. ...