GlaxoSmithKline is teaming up with Merck KGaA of Germany in a multibillion-deal to jointly develop an experimental immunotherapy treatment for multiple difficult-to-treat cancers.
Under the terms of the agreement, GSK (NYSE: GSK) will make an $342.8 million upfront payment to Merck KGaA, which will be also be eligible for up to $571 million in potential development milestone payments and $3.3 billion approval and commercial milestone payments.
The deal total potential value is $4.2 billion.
