Genzyme to Purchase new Cancer Drug from AstraZeneca
New England Council member Genzyme has announced an agreement with AstraZeneca in which Genzyme will purchase a cancer therapy drug for $300 million.
The drug is called Caprelsa and it is used to treat a specific type of thyroid cancer. The drug is also in Phase III research for treatment of another type of cancer. The deal allows Genzyme—a leader in endocrinology– to sell and further develop Caprelsa.
Genzyme President and CEO David Meeker, M.D., explained, “The addition of the Caprelsa represents a strong strategic fit for our rare Endocrinology portfolio and underscores Genzyme’s commitment to addressing unmet needs in the thyroid community. We look forward to bringing our rare disease expertise to appropriate patients with advanced stage thyroid carcinoma.”
The New England Council congratulates Genzyme on this acquisition and commends the company for it’s commitment to treating rare diseases.