AstraZeneca to invest $2 billion in Summit Therapeutics for cancer drug tie-up
Summit said AstraZeneca will buy preferred shares at an equivalent $18.36 a share and the transaction is expected to close by week-end.
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AstraZeneca to invest $2 billion in Summit Therapeutics for cancer drug tie-up
Summit Therapeutics NASDAQ:SMMT said on Monday that British drugmaker AstraZeneca LSE:AZN would invest $2 billion in the company and collaborate on a series of studies testing their cancer treatments together.Summit's shares rose over 15% in extended trading following the announcement.Here are some…