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Tuesday, September 16, 2014

BRIEF-AstraZeneca to develop Alzheimer's drug with Eli Lilly, (NYSE: AZN)

AstraZeneca Plc * AZ and Lilly alliance to develop BACE inhibitor* Lilly will pay AstraZeneca up to $500 million in development and regulatory milestone payments* Astrazeneca expects to receive first milestone payment of $50 million in first half of 2015* Companies will share all future costs equally for development and commercialisation of AZD3293

AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN traded higher by 0.65% or $0.48/share to $73.78. In the past year, the shares have traded as low as $49.63 and as high as $82.68. On average, 2229700 shares of AZN exchange hands on a given day and today's volume is recorded at 745446.