AstraZeneca Pays $600M for Dizal Lung Cancer Drug Rights

AstraZeneca will pay Dizal Pharmaceutical $600 million upfront for global rights to a lung cancer drug, the Chinese drugmaker said in a filing to the Shanghai stock exchange Tuesday.

The drug targets a type of non-small cell lung cancer. AstraZeneca already markets several lung cancer treatments, including Tagrisso and Imfinzi. The deal adds a late-stage asset to its pipeline.

AstraZeneca carries an Alpha Score of 46 out of 100, a Mixed rating, according to AlphaScala's proprietary model. The stock trades on the Nasdaq under the ticker AZN.

Dizal did not disclose additional milestone payments or royalty rates in the filing.