Merck, Daiichi Sankyo Ink Commercialization Deal for Up to $22 Billion
20 October 2023 - 11:30AM
Dow Jones News
By Ben Glickman
Merck and Daiichi Sankyo agreed to jointly develop and
commercialize three potential cancer treatments in a deal worth up
to $22 billion.
Merck and Daiichi Sankyo will develop and commercialize three
antibody drug conjugate candidates--patritumab deruxtecan,
ifinatamab deruxtecan and raludotatug deruxtecan--worldwide.
Daiichi Sankyo will retain exclusive rights in Japan.
Merck will pay Daiichi Sankyo $4 billion up front and $1.5
billion in continuation payments over the next two years. If
certain sales milestones are met, Merck will contribute up to $16.5
billion down the line.
The ADC candidates, all in different stages of clinical
development, are being studied to treat solid tumors on their own
or when combined with other treatments.
The companies said they plan to submit a biologics license
application for patritumab deruxtecan by the end of March 2024. The
treatment has already received breakthrough therapy designation
from the U.S. Food and Drug Administration.
Merck said it would record a pretax charge of $5.5 billion
related to the transaction, which would lower fourth-quarter and
full-year results.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 19, 2023 20:15 ET (00:15 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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