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Schering AG and AstraZeneca Form Strategic Alliance to Develop Novel Anti-Cancer Drug.

Publication: PR Newswire
Publication Date: 15-SEP-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Companies Will Collaborate to Develop and Commercialize a Novel Selective Estrogen Receptor Downregulator (SERD) for the Treatment of Breast Cancer

BERLIN, September 15 /PRNewswire-FirstCall/ -- Schering AG, Germany (FSE: SCH, NYSE: SHR) and AstraZeneca have formed an alliance to co-develop and jointly commercialize Schering AG's novel SERD.

Under the terms of the agreement, the companies will jointly develop the novel SERD with AstraZeneca leading the clinical development and Schering leading the non-clinical and process development as well as manufacturing activities. The companies will co-promote the product in the major territories. All development and commercialization costs and global profits will be shared equally. Financial terms of the deal were not disclosed.

"The development of agents that selectively down regulate the estrogen receptor is an exciting and important advance in the treatment of breast cancer. This novel SERD has the potential to offer...

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