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AstraZeneca licenses inflammatory disease candidate to Allergan

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 3 (Reuters) - Britain's AstraZeneca (NYSE: AZN - news) said it had licensed a potential medicine for inflammatory diseases to Allergan (Frankfurt: A1W5NE - news) for an upfront payment of $250 million and potential additional payments of up to $1.27 billion.

AstraZeneca said the drug developed by its global biologics research and development arm MedImmune was being testing as a treatment for moderate-to-severe Crohn's disease and was ready to start trials for ulcerative colitis.

Amgen Inc (HKSE: 4332.HK - news) , which has been collaborating with MedImmune on developing the medicine, will receive a third of all payments and royalties received from Allergan, AstraZeneca (Swiss: AZN.SW - news) said on Monday.

(Reporting by Paul Sandle; editing by Sarah Young)