AstraZeneca PLC (LON: AZN) has entered into a collaboration agreement with CSPC Pharmaceutical Group
This new collaboration is worth over $5 Billion dollars to advance the discovery of novel oral drug candidates, according to an announcement on Friday.
Under the terms of the agreement, CSPC will receive $110 million as an upfront payment. The deal also includes potential milestone payments of up to $5.22 billion.
The partnership aims to strengthen AstraZeneca (NASDAQ: AZN)’s drug development pipeline by leveraging CSPC’s capabilities in discovering new oral therapeutic candidates.
This collaboration represents a significant financial commitment from AstraZeneca, with the total potential value of the deal reaching $5.33 billion if all milestones are achieved.
Both pharmaceutical companies will work together to identify and develop new oral medications, though specific therapeutic areas targeted by the collaboration were not disclosed in the announcement.