AstraZeneca to Invest $2B in Summit Therapeutics, Collaborate on Cancer Drugs

By Elias SchisgallAstraZeneca is investing $2 billion into Summit Therapeutics as part of an expanded partnership between the two companies.Summit said Monday that AstraZeneca will buy $2 billion of convertible preferred shares, representing a common stock price of $18.36 a share, a 10% premium to…