AstraZeneca has sold development and commercialisation rights for its psoriasis drug brodalumab to Valeant Pharmaceuticals.

Under the deal, Valeant will pay AZ an upfront fee of $100 million as well as additional pre-launch milestones of up to $170 million and further sales-related milestones of up to $175 million following launch, after which the firms will share profits.

In return, the Canadian drugmaker gains exclusive global rights to the IL-17 receptor monoclonal antibody, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin under a prior deal with Amgen, the brodalumab’s originator. 

Regulatory submission in the US and EU for brodalumab in moderate-to-severe psoriasis is planned for the fourth quarter of this year, and deal is also expected to close during the period.

“Our agreement will help to bring brodalumab to patients with psoriasis who need new treatment options through Valeant’s expert focus on dermatology,” said AZ chief executive Pascal Soriot.