Under-pressure CSL strikes billion-dollar deal – bets on new phase II candidate
Job cuts, a lowered earnings forecast and concerns over its vaccine business have put CSL under pressure. Now the Australian pharmaceutical giant is making a major bet on a Swiss drug candidate for rare kidney and liver diseases.
CSL is betting on Swiss biotech Alentis Therapeutics’ drug candidate lixudebart in a deal worth up to $1.6 billion, in addition to funding for development costs.
The Australian pharmaceutical company will pay $355 million upfront, with Alentis eligible for up to a further $1.2 billion in commercial milestone payments.
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