AstraZeneca Inks Multibillion-Dollar Cancer Treatment Collaboration

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U.K. drug giant AstraZeneca on Monday announced a cancer treatment partnership with a Japanese entity worth as much as $6 billion. AstraZeneca (AZN) and Japans Daiichi Sankyo Co. could develop potential new ways to treat multiple types of tumors, the company said. Daiichi Sankyos DS-1062 is designed to deliver chemotherapy selectively to cancer cells and to reduce systemic exposure, the release stated. " New Jersey-based Immunomedics (IMMU) is among AstraZeneca and Daiichi Sankyos main rivals in this cancer treatment arena, Yver said. AZN stock touched an all-time high near 65 on July 20, after the company announced positive Phase 1 results for its coronavirus vaccine.

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