Roche buys U.S. drugmaker Promedior to get lung drug- for up to $1.4 billion
ZURICH – Swiss drugmaker Roche is coughing up to $1.4 billion (£1 billion) towards buying U.S. biotech company Promedior. The main drug candidate against idiopathic pulmonary fibrosis is set to start its late-stage trials, Promedior said on Friday.
The deal includes a payment of $390 million along with the potential for $1 billion more, considering that conditions are met. Promedior’s lead asset PRM-151 is being studied in the lung disease called IPF, the firm said it helped improve lung function, on top of current therapies.
Roche already has an IPF medicine called Esbriet which boasts 2018 sales of just over $1 billion.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.