trending Market Intelligence /marketintelligence/en/news-insights/trending/_m6frvzxyivem1objismcg2 content esgSubNav
In This List

Array BioPharma sues AstraZeneca over cancer drug royalties

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Array BioPharma sues AstraZeneca over cancer drug royalties

Array BioPharma Inc. is seeking at least $192 million from AstraZeneca PLC for an alleged breach of their licensing agreement involving the cancer drug selumetinib, Reuters reported.

Boulder, Colo.-based Array BioPharma licensed the drug in 2003, providing U.K.-based AstraZeneca the option to sublicense it for a 12% royalty on sums from sub-licensees.

According to the lawsuit filed in the New York State Supreme Court in Manhattan, AstraZeneca has refused to pay the required royalty now that the medicine is sub-licensed to Merck & Co. Inc. as part of a broader $8.5 billion collaboration to study cancer drug combinations.