Investor Alert

Jan. 18, 2021, 2:34 a.m. EST

AstraZeneca gets FDA OK for gastric cancer drug

By Matteo Castia

AstraZeneca PLC said Monday that the U.S. Food and Drugs Administration has approved Enhertu as a treatment for patients with gastric cancer.

The pharmaceutical giant has developed Enhertu --a HER2-directed antibody drug conjugate-- in collaboration with Japan's Sankyo Company Ltd.

AstraZeneca will pay $115 million to Sankyo as a combined second and third milestone payment for reaching the goal of approval in the U.S.

Link to MarketWatch's Slice.