Glaxo will pay Merck for access to a promising immune-oncology treatment. Under the deal, Merck will receive an upfront payment of $341 million for the experimental drug. Merck also will be eligible to receive up to $569 million in development payments and $3.3 billion upon the drug’s approval.
The therapy at the center of Merck’s agreement with Glaxo is called M7824, and it is currently in a trial to test efficacy against Keytruda for lung cancer.
Both Merck and Glaxo will be involved the development and commercialization of M7824. All profits and costs will be shared equally.
Read the full report here.
More articles on pharmacy:
Senate committee invites 7 pharma leaders to testify at drug price hearing
Bernie Sanders takes aim at drug’s $375K price tag
Walgreens buys 63 pharmacies out of bankruptcy
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
