Valeant gets right to develop AstraZeneca's psoriasis drug
Sept 1 (Reuters) - Canada's Valeant Pharmaceuticals International Inc said it has been granted an exclusive license by AstraZeneca Plc to develop and commercialize its late-stage experimental psoriasis drug brodalumab.
The arrangement excludes Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co , Valeant said on Tuesday.
Valeant said it will make an up-front payment of $100 million to AstraZeneca, and additional pre-launch milestone payments of up to $170 million and sales-related milestone payments of up to $175 million following launch.
Brodalumab belongs to a class of drugs called IL-17 inhibitors that work by blocking a signaling pathway that plays a key role in inducing and promoting inflammatory diseases. Psoriasis is a chronic autoimmune disease in which the growth cycle of skin cells is accelerated. (Reporting by Supriya Kurane in Bengaluru; Editing by Gopakumar Warrier)
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