A sign stands outside a Bristol Myers Squibb facility in Cambridge, Massachusetts, U.S., May 20, 2021. REUTERS/Brian Snyder
June 17 (Reuters) – Bristol-Myers Squibb Co (BMY.N) and Eisai Co said on Thursday they had entered into an agreement worth up to $3.10 billion to jointly develop and market an experimental cancer drug.
Bristol-Myers would pay $650 million, including for research and development expenses to Eisai, which will also be eligible for up to $2.45 billion in milestone payments, the companies said.
They would jointly develop and market the drug, MORAb-202, in Asia, Europe, the United States and Canada.
Bristol-Myers in May entered into a $1.56 billion deal with Agenus Inc (AGEN.O) to exclusively develop and market its experimental drug for immuno-oncology treatments, including non-small-cell lung cancer.
The drugmaker has been betting on sales of its Opdivo drug to treat such cancers, in a market currently dominated by Merck & Co’s (MRK.N) rival treatment, Keytruda.
Eisai’s drug, MORAb-202, is being developed for the treatment of solid tumors, including ovarian, lung and breast cancers and is in the early stage of development.
Bristol-Myers will pay Eisai a royalty on sales outside of the collaboration territories, the companies said.Reporting by Amruta Khandekar; Editing by Vinay Dwivedi
Our Standards: The Thomson Reuters Trust Principles.
Dubai leveraged its strategic coastline to become a global trade hub, exporting “access itself” through…
Keturah Reserve launches final sales phase as 2025 data reveals AED86B capital gains and major…
The UK economy contracted again in late 2025, with weaker services output fuelling expectations of…
U.S. lawmakers are raising alarms over Nvidia’s AI chip exports to China, warning that allowing…
The historic occasion recognized and immortalized Adesina’s name, leadership, contributions to Africa, and his visionary…
Record 215,700 annual sales worth AED 686.8 billion underscore city's position as a premier global…