This morning, AstraZeneca (NYSE:AZN) agreed to pay Merck (NYSE:MRK) $50 million to license its experimental cancer drug MK-1775. The drug is in mid-stage trials to treat patients with ovarian cancer. As part of the deal, Merck is entitled to future future payments related to the progress of the development of the drug as well as royalties if the drug reaches the end market. On the news, both companies were trading relatively flat.
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