AstraZeneca enters another new development partnership

AstraZeneca announced another deal to collaborate on new drugs. The company will develop and market new cancer drugs made by Astex, a biotech based in Cambridge, England. The deal requires a $5 million upfront payment to Astex and additional milestones of up to $270 million.

The Astex deal comes on the heels of another AstraZeneca collaboration announcement that it would work with Schering to develop a new class of anti-inflammatory agents known as selective glucocorticoid receptor agents.

- read this story from The News Journal for more

PLUS: AstraZeneca taps US operations chief David Brennan to be new CEO as second-quarter profit surges by 50 percent. Story

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