Replies to post #177608 on Biotech Values

[DewDiligence]

PFE/AZN—Nobel laureate (and former president of Rockefeller University), Paul Nurse says PFE’s 5-year commitment to UK-based R&D is inadequate:

http://www.reuters.com/article/2014/05/14/us-astrazeneca-pfizer-idUSBREA3R0H520140514

Nobel laureate Paul Nurse, the president of the Royal Society, Britain's national academy of science, wrote to the chairman of Parliament's science committee Andrew Miller to express his concern that Pfizer's promises so far were vague and inadequate…. “A five-year commitment to the UK is insufficient. A commitment of at least 10 years is required. Science is not a quick win,” he wrote.

[DewDiligence]

AZN reports early data for anti-PD-1/CTLA4 combination of MEDI4736 + Tremelimumab:

http://in.reuters.com/article/2014/09/27/us-health-cancer-astrazeneca-idINKCN0HM0AD20140927

Tremelimumab, the anti-CTLA4 drug in the combination, was licensed from PFE in 2011(#msg-67624944).

[DewDiligence]

CELG, AZN ink collaboration for MEDI4736 in blood cancers:

http://finance.yahoo.com/news/celgene-corporation-enters-strategic-immuno-050400020.html

Under the terms of the agreement, Celgene will collaborate with AstraZeneca to develop the anti-PD-L1 antibody MEDI4736 in hematology and make an upfront payment of $450 million.

Celgene will lead clinical development across all new clinical trials within the collaboration and be responsible for all costs associated with these trials until December 31, 2016, after which it is responsible for 75% of these costs. Celgene will also be responsible for the global commercialization of approved MEDI4736 indications in hematology, and will receive royalty rates starting at 70 percent [!] of worldwide sales from all uses in hematology. Royalty rates will decrease gradually to 50 percent over a period of fours after the first date of commercial sales.