Allergan buys rights to AstraZeneca's IBD treatment drug for $250M: 3 notes

Allergan has bought the rights to develop and commercialize MEDI2070, according to Zacks.

MEDI2070 is an experimental Crohn's disease and ulcerative colitis drug developed by the London-based pharmaceutical company AstraZeneca.

Here's what you need to know:

1. Allergan paid $250 million upfront during this transaction.

2. Allergan has agreed to pay AstraZeneca additional payments of up to $1.27 billion, should the drug hit certain product development and sales milestones.

3. MEDI2070 is in a phase IIb study concerning Crohn's disease treatment. The drug is also ready to begin phase II trials for ulcerative colitis treatment.

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