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$SMMT Summit Therapeutics Is Said In Talks For $15 Billion Partnership With Astra - Bloomberg
$SMMT down in the news 😂 Nothing more weird than biotech. Instead of investors jumping of joy as $AZN is saving them for free. https://t.co/NniiSfnbWn
😂 even $AZN falling for the pd1/VEGF trap. Classic Peer pressure effect .. so Pharma has some cash to spend overall. Good job $SMMT management for getting some cash out of this molecule … Obviously if they have full confidence they would have kept the molecule for https://t.co/PrRsT1JG4F
AstraZeneca Plc is in advanced discussions with Summit Therapeutics Plc over a licensing partnership that could be valued at as much as $15 billion, according to people familiar with the matter. The proposed deal would give AstraZeneca rights to an experimental lung-cancer medicine being developed by Summit. Payments would be structured as an upfront fee and development and sales milestones spread over several years, the people said. Talks are continuing and may still fall apart, but an agreement of that size would rank among the largest licensing transactions in the biotechnology sector this year and bolster AstraZeneca’s oncology pipeline. Representatives for both companies declined to comment.
