Merck Leases Experimental Cancer Drug to AstraZeneca and 2 Other Dow Movers to Watch
Merck & Co., Inc. (NYSE:MRK): Current price $48.31
It was announced that Merck has licensed its experimental cancer drug to AstraZeneca Plc for $50 million upfront in a transaction which indicates that the United Kingdom’s number-two drugmaker continues to rebuild its pipeline. Through the terms, Merck, which is the second-biggest American drugmaker, will also be eligible for future payments connected with the development and regulatory milestones along with tiered royalties. The drug, referred to as MK-1775, is presently in mid-stage trials in combination with standard-of-care therapies for the treatment of patients suffering from certain types of ovarian cancer.