July 31, 2013 / 6:28 AM / 4 years ago

AstraZeneca buys rights to anaemia drug from FibroGen

LONDON (Reuters) - AstraZeneca took a further step to bolster its new drug pipeline on Wednesday by striking a deal with private biotech firm FibroGen potentially worth more than $815 million for rights to an experimental anaemia drug.

Britain’s second biggest drugmaker will pay $350 million upfront and in subsequent non-contingent payments, plus future development-related milestone payments of up to $465 million, for rights to FG-4592 in the United States, China and certain other markets.

There may be additional payments if use of the drug is expanded.

Japan’s Astellas Pharma already has rights to the medicine in Japan, Europe, the Commonwealth of Independent States, the Middle East and South Africa.

Reporting by Ben Hirschler; editing by Kate Holton

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