Issue Date: August 3, 2015
AstraZeneca Tunes Drug Portfolio
AstraZeneca and Fujifilm Kyowa Kirin Biologics (FKB) are forming a 50-50 joint venture to develop a biosimilar of Avastin, a Genentech cancer drug. The new venture will pay $45 million to FKB for a biologic that is undergoing Phase I clinical trials in Europe. FKB is a biosimilars joint venture set up in 2012 by Fujifilm and Kyowa Hakko Kirin. Separately, AstraZeneca will get up to $300 million for selling Genzyme the rights to Caprelsa, a drug for treating aggressive and symptomatic medullary thyroid carcinoma, a rare disease. Caprelsa registered sales of $48 million in 2014.
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