(Sharecast News) - AstraZeneca said on Wednesday that it has closed a global development and commercialisation agreement with California-based Ionis Pharmaceutical for eplontersen, a medicine used in the treatment of transthyretin amyloidosis.
The companies will jointly develop and commercialise eplontersen in the US, while AstraZeneca will develop and commercialise it in the rest of the world, except Latin America.
Under the terms of the agreement, AstraZeneca will make an upfront payment of $200m to Ionis. The London-listed pharmaceuticals group will make additional conditional payments of up to $485m following regulatory approvals.
It will also pay up to $2.9bn of sales-related milestones based on sales thresholds between $500m and $6bn, plus royalties in the range of low double-digit to mid-twenties percentage depending on the region.
AstraZeneca said the deal is expected to be neutral to core earnings in 2021 and does not impact financial guidance for the year.
Astrazeneca (AZN)Today 08:59
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