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AstraZeneca licenses Amgen drug candidate

Fri, 01/07/2011 - 8:45am
The Associated Press

MedImmune Inc., a unit of AstraZeneca, said Friday it licensed a potential treatment for inflammatory conditions from Amgen Inc.

The company licensed AMG-108 for undisclosed financial terms. The deal gives MedImmune rights to develop the drug worldwide, with the exception of Japan.

Shares of AstraZeneca, based in the U.K., fell 50 cents to $46.76 in U.S. afternoon trading while shares of Amgen, based in Thousand Oaks, Calif., rose 41 cents to $56.96.

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