Drugmaker Merck will pay Daiichi Sankyo $5.5 billion to jointly develop three of its candidate cancer drugs, they said, in a deal that could be worth up to $22 billion to the Japanese firm depending on the success of the cell-targeting therapies. Daiichi Sankyo shares...
Drugmaker Merck will pay Daiichi Sankyo $5.5 billion to jointly develop three of its candidate cancer drugs, they said, in a deal that could be worth up to $22 billion to the Japanese firm depending on the success of the cell-targeting therapies. Daiichi Sankyo shares closed up 14.4% in Tokyo to post their steepest gain in more than a year.
The three drug candidates to be developed with Merck belong to the class known as antibody drug conjugates and are in various stages of clinical development for the treatment of multiple solid cancer tumors. Unlike conventional chemotherapy, which can kill healthy cells, ADCs are designed to target only cancer cells, potentially reducing damage to normal cells.
The drug candidates - patritumab deruxtecan, ifinatamab deruxtecan and raludotatug deruxtecan - have "multi-billion dollar worldwide commercial revenue potential for each company" by the mid-2030s, the two companies said. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca. This week, a data abstract on a late-stage trial of datopotamab deruxtecan it is developing with AstraZeneca disappointed some analysts.
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