HUTCHMED Signs 110M Deal With GSK for Cancer Drug
HUTCHMED announced that GSK will pay 110 million dollars upfront for rights to its experimental solid tumour drug. The agreement includes up to 1.2 billion dollars in milestone payments. Following the news, HUTCHMED shares surged about 15 percent.
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GSK PLC-SPON ADR will pay $110M upfront for global development rights to an experimental solid tumour drug from HUTCHMED CHINA-ADR, the China drugmaker said Thursday morning. Shares in the company rose about 15% following the announcement. The agreement includes up to $1.2B in development, regulatory, and commercial milestone payments.
