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AstraZeneca pays $50 million for rights to Merck cancer drug

Merck & Co has licensed its experimental cancer drug to AstraZeneca for a $50 million upfront fee.

Under the terms of agreement Merck will also be eligible to receive future payments related to development and regulatory milestones as well as tiered royalties. The drug called MK-1775 is currently in mid-stage trials in combination with standard-of-care therapies for the treatment of certain types of ovarian cancer.