"We filled the vacancy the next day"
AstraZeneca to work with Nektar Therapeutics on new drug technology
Nektar Therapeutics has stated its new deal with AstraZeneca proves the validity of its drug technology.
The firms' pharmaceutical staff are to work together on two treatments – one for a type of constipation and the other a pain relief medicine that does not affect healthy digestive transit.
Some $125 million (£76.74 million) will be paid from the latter organisation to the former as part of the worldwide license agreement for the programmes.
Named NKTR-118 and NKTR-119 respectively, the pills are set to be created using advanced polymer conjugate techniques.
It is expected the products will be filed with regulatory authorities in four years' time.
Commenting, chief executive officer of AstraZeneca David Brennan claimed it was an exciting development.
"It provides us the opportunity to apply our deep knowledge and expertise in neuroscience, oncology and gastrointestinal areas of medicine to create real value for patients," he said.
Earlier this year, AstraZeneca announced second quarter sales figures of $7,958 million, which it stated was "better than anticipated" in the current economic climate.
By Alistair Timson
The firms' pharmaceutical staff are to work together on two treatments – one for a type of constipation and the other a pain relief medicine that does not affect healthy digestive transit.
Some $125 million (£76.74 million) will be paid from the latter organisation to the former as part of the worldwide license agreement for the programmes.
Named NKTR-118 and NKTR-119 respectively, the pills are set to be created using advanced polymer conjugate techniques.
It is expected the products will be filed with regulatory authorities in four years' time.
Commenting, chief executive officer of AstraZeneca David Brennan claimed it was an exciting development.
"It provides us the opportunity to apply our deep knowledge and expertise in neuroscience, oncology and gastrointestinal areas of medicine to create real value for patients," he said.
Earlier this year, AstraZeneca announced second quarter sales figures of $7,958 million, which it stated was "better than anticipated" in the current economic climate.
By Alistair Timson