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Drug Development

LifeArc raises $1.3 billion from royalty sale

by Alex Scott
May 25, 2019 | APPEARED IN VOLUME 97, ISSUE 21

 

The UK medical research charity LifeArc has sold most of its royalty rights for the antibody pembrolizumab to the Canada Pension Plan Investment Board for $1.3 billion. LifeArc got the royalty for helping develop the antibody with Organon, which Merck & Co. later acquired. Pembrolizumab, now marketed by Merck as Keytruda, brought in sales of $7.2 billion last year. LifeArc chairman John Stageman describes the deal as “a once-in-a-generation opportunity.”

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