- Valeant Pharmaceuticals (VRX) is buying rights to AstraZeneca's (NYSE:AZN) late-stage experimental psoriasis drug brodalumab after it was dropped by Amgen (NASDAQ:AMGN) over concerns about the medicine's "suicidal" side effects.
- Valeant will make an upfront payment of $100M to AstraZeneca, with another $170M in prelaunch milestones and up to $175M following launch.