AstraZeneca inks $6.9-bn breast, gastric cancer therapy deal with Daiichi

AstraZeneca said the transaction won't impact earnings this year but will make a 'significant contribution' by 2023

AstraZeneca Plc agreed to pay up to $6.9 billion for a piece of a promising cancer treatment in its biggest deal in over a decade as it aims to become a global oncology powerhouse.

AstraZeneca will pay the Japanese drugmaker Daiichi Sankyo Co. $1.35 billion upfront to jointly develop and commercialize the cancer therapy trastuzumab deruxtecan, with as much as $5.6 billion in additional payments subject to sales milestones and other contingencies, the companies said late Thursday. They will also equally split development and commercialization costs.

The Cambridge, U.K.-based company said it will fund the transaction partly through a share