CSL Strikes $1.6B Rare Disease Deal
Australian biotech giant CSL has agreed to co-develop a rare disease treatment with Swiss firm Alentis Therapeutics in a deal valued up to $1.6 billion. CSL will pay $355 million upfront and share future global profits.
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Australia's CSL LTD-SPONSORED ADR agreed to pay $355 million upfront to co-develop a rare disease treatment with Switzerland drugmaker Alentis Therapeutics in a $1.6 billion deal. The partnership adds lixudebart to the biotech giant's pipeline for rare kidney and liver diseases. The investment arrives as the company faces investor pressure following recent earnings downgrades and job cuts.
