By David SachsMerck has a deal worth at least $70 million with Abbisko Therapeutics to commercialize a drug to treat joint tumors. Merck said it will pay $70 million up front for the exclusive rights, with additional payments for meeting certain regulatory and commercial milestones. Merck also has the option to co-develop the drug for a fee, it said. Regulators in China and the U.S. have deemed the medicine a breakthrough while European regulators have designated it a priority drug, Merck said. Write to David Sachs at david.sachs@wsj.com-0-Write to David Sachs at david.sachs@wsj.com(END) Dow Jones Newswires12-04-23 0854ET

Source: Wall Street Journal December 04, 2023 13:59 UTC