AstraZeneca signs $1.5 bln deal with Allergan

AstraZeneca PLC (AZN.LN) said on Monday that it has signed a deal with Allergan PLC AGN, -0.21% worth up to $1.52 billion through its global biologics research and development unit.

The bio-pharmaceutical company said that under the deal, Allergan will have the global rights to an antibody for Crohn’s disease.

Allergan will pay upfront $250 million, but it may also make some payments to AstraZeneca worth up to $1.27 billion, depending on how good the sales of the antibody are, the company said.

Source: The Market Watch