Biotech Values

[DewDiligence]

Re: AMGN-AZN collaboration

With its manifold clinical failures and patent expirations, AZN wasn’t in a great bargaining position; hence the provision that AZN is responsible for 65% of the R&D during the first three years (in addition to forking over $50M) while earning less than half of the net profits (after royalties to AMGN are deducted).