Bristol-Myers Squibb paid $100 million upfront for the rights to Japanese drugmaker Nitto Denko's experimental fibrosis drug, reports Reuters.
The drug is intended to treat patients with liver fibrosis caused by fatty liver disease or hepatitis C.
Through the deal, Nitto will be eligible to earn clinical and regulatory milestone payments and royalties, according to the report. Bristol-Myers also has the option to acquire exclusive licenses for Nitto's experimental drugs for other types of fibrosis.
More articles on supply chain:
Global supply chain risk index on the rise: 4 things to know
Nuclear reactor shut down threatens supply of radioactive material for medical imaging
J.B. Hunt to add hundreds of trucks next year despite industry slowdown: 3 takeaways