Daiichi Sankyo, Merck ink $22-billion cancer drug deal

Daiichi rose as much as 18 per cent on Friday, the biggest intraday jump since 2005, after Merck agreed to pay $4 billion upfront and as much as $22 billion to develop and market three cancer drug candidates. One them is them slated to seek US approval by March 2024, the company said in a statement. Daiichi will retain the rights for these drugs in Japan.

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