AstraZeneca, Schering AG Reach Agreement To Jointly Develop Experimental Breast Cancer Treatment

Pharmaceutical companies AstraZeneca and Schering AG on Friday announced an agreement to jointly develop and promote AztraZeneca's experimental breast cancer treatment drug SERD, Reuters reports (Reuters, 9/15). According to AFX/Forbes, SERD is in a class of drugs that aims to regulate estrogen receptors. Many breast cancer tumors are fueled by estrogen (AFX/Forbes, 9/15). According to a Schering AG release, the agreement stipulates that AstraZeneca will lead clinical development of the drug and Schering will head up manufacturing and non-clinical development (AFP/Yahoo! News, 9/15). All costs and profits related to the drug will be shared equally by the two companies. Exact financial terms of the agreement were not disclosed (Schering AG release, 9/15).

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