April 2 Quick Takes: Agios begins share buybacks upon closing Servier deal, plus Royalty-GSK, Gracell-Lonza, Alloy, Eloxx-Zikani and Angelini-Ovid

Upon completing the sale of its cancer business to Servier for $1.8 billion up front and up to $200 million in milestones, Agios Therapeutics Inc. (NASDAQ:AGIO) announced plans to repurchase 7.1 million shares, or $344.5 million, of Agios stock held by Bristol Myers Squibb Co. (NYSE:BMY). The company plans to repurchase up to $1.2 billion in outstanding shares over the next 12-18 months.

Royalty buys GSK's Cabometyx royalty shares
Royalty Pharma plc (NASDAQ:RPRX) has acquired a royalty interest in Cabometyx cabozantinib, which is also marketed as Cometriq, from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). Royalty will pay the pharma, which is entitled to a 3% royalty on worldwide sales via a 2002 deal with Exelixis Inc. (NASDAQ:EXEL), $342 million up front and up to $50 million in additional payments upon prostate cancer and lung cancer approvals in the U.S. and Europe. Royalty will receive GSK's share of net ex-U.S. sales through the full term of the royalties and GSK's share of U.S. sales through Sept. 2026...