AstraZeneca's Alexion Inks Deal With Pan-Canadian Pharmaceutical Alliance

(RTTNews) - Wednesday, Alexion Pharma Canada Corp., AstraZeneca's Rare Disease group, has entered into a Letter of Intent with the pan-Canadian Pharmaceutical Alliance for Koselugo for the treatment of paediatric patients aged two years and above with neurofibromatosis type 1 or NF1, who have symptomatic, inoperable plexiform neurofibromas.

NF1 is a rare, progressive, genetic condition, causing symptoms like soft lumps on and under the skin.

The company explained that selumetinib, sold under the name Koselugo, slows down the growth of tumour cells, and has been approved in the U.S., EU, Japan, China, and other countries for the treatment of certain paediatric patients with NF1.

Following the agreement, individual provinces and territories may now initiate the process to list Koselugo on their formularies.

"The positive conclusion of this agreement between Alexion and pCPA is very exciting news for Canadian children and their families living with NF1 PN," Veronique Maheux, President of L' Association de la Neurofibromatose du Quebec said.

"I would also like to recognize the Province of Quebec for their leadership in being the first to list Koselugo and call on the other provinces and territories to make Koselugo accessible to children living with NF1 PN as quickly as possible."

Currently, AstraZeneca's stock is trading at $65.90, down 1.90 percent on the Nasdaq.