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Valeant gets right to develop AstraZeneca's psoriasis drug

Published 2015-09-01, 02:28 a/m
© Reuters.  Valeant gets right to develop AstraZeneca's psoriasis drug

Sept 1 (Reuters) - Canada's Valeant Pharmaceuticals (NYSE:VRX)
International Inc VRX.TO VRX.N said it has been granted an
exclusive license by AstraZeneca Plc AZN.L to develop and
commercialize its late-stage experimental psoriasis drug
brodalumab.
The arrangement excludes Japan and certain other Asian
countries where rights are held by Kyowa Hakko Kirin Co
4151.T , Valeant said on Tuesday.
Valeant said it will make an up-front payment of $100
million to AstraZeneca, and additional pre-launch milestone
payments of up to $170 million and sales-related milestone
payments of up to $175 million following launch.
Brodalumab belongs to a class of drugs called IL-17
inhibitors that work by blocking a signaling pathway that plays
a key role in inducing and promoting inflammatory diseases.
Psoriasis is a chronic autoimmune disease in which the growth
cycle of skin cells is accelerated.

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