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Takeda – Rusfertide US Rights Deal

Summary Protagonist Therapeutics has opted out of its 50:50 US profit-sharing agreement with Takeda for rusfertide, granting Takeda full US commercial rights in exchange for up to $475 million in near-term payments and substantial downstream milestones and royalties. What Happened…

Lilly – Ajax JAK2 Deal ($2.3B)

Summary Eli Lilly has entered a definitive agreement to acquire Ajax Therapeutics in a deal worth up to $2.3 billion to secure AJ1-11095, a first-in-class Type II JAK2 inhibitor for myelofibrosis and polycythemia vera, positioning Lilly in the next-generation JAK…

Regeneron – MFN Drug Pricing Agreement

Summary Regeneron has entered into a ‘most favored nation’ (MFN) drug-pricing agreement with the White House, aligning certain drug prices with Medicaid benchmarks. The move reflects increasing policy pressure on pharmaceutical pricing rather than a scientific or clinical development. What…

Merck – $1B Google AI Deal

Summary Merck has entered a ~$1 billion enterprise agreement with Google Cloud to expand use of AI across its R&D and operational infrastructure, marking a major investment in AI-enabled drug development capabilities. What Happened Merck signed a long-term deal with…