UK charity pockets $150 million from Merck cancer immunotherapy drug

Reuters

Thu, Jul 14, 2016, 7:02 PM

LONDON (Reuters) - British medical charity MRC Technology has pocketed $150 million by selling part of its royalty interest in Merck & Co's (MRK.N) successful cancer drug Keytruda, allowing it to plough fresh funds into new research.

The charity said on Friday that a private equity fund managed by DRI Capital had acquired a portion of its royalty entitlement on the worldwide sales of the medicine.

Keytruda is one of a promising class of new treatments that stimulate the body’s immune system to fight cancer. It is an antibody-based medicine and was "humanised" by scientists at MRC Technology.

(Reporting by Ben Hirschler. Editing by Jane Merriman)

Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'
Finance expert Suze Orman has voiced concerns about the impact of climate change on property insurance costs, asserting it could threaten the American dream of homeownership. Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely. She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes. Don't Miss: For many first-time buyers, a house is abo
Benzinga•1h ago
The IRS says it’s going after wealthy tax cheats. Here’s what new audit stats show.
After Congress approved billions of extra funding for tax compliance, the Internal Revenue Service pledged it would get tougher on rich taxpayers and corporations while avoiding extra scrutiny of middle-class households.
MarketWatch•4h ago
Super Micro Computer (SMCI) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
Super Micro (SMCI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Zacks•4h ago
California McDonald's Franchise Owner Says, 'The Focus Is On Survival' With 'Unprecedented' $20 Per Hour Minimum Wage Forcing Higher Prices
In response to California's new $20 minimum wage law, fast food franchises are being forced to rethink their business strategies to stay afloat. Scott Rodrick, who owns 18 McDonald's franchises in the state, is considering measures to manage the increased labor costs without resorting to layoffs, which he sees as a last resort. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? The average American couple has saved this much money for
Benzinga•1d ago
Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange.
CoinDesk•1d ago
The Bond Market Is Sounding Its Most Severe Alarm in Decades, and It Could Mean Trouble for the Stock Market
This bond market indicator has predicted past recessions with near-perfect accuracy since the mid-1960s, and it's sending Wall Street a warning right now.
Motley Fool•10h ago
Ask an Advisor: We're 56 With $1.2 Million in Investments and Savings. Can We Afford to Withdraw $60k-$80k Per Year in Retirement?
My wife and I are both 56. We have around $1.2 million saved – approximately $450,000 in company 401(k)s, $650,000 in a managed account, and approximately $70,000 in personal stocks. We also have approximately $22,000 in savings. Our home is worth $700,000 or more and we owe $197,000 with a 3.875% interest rate. Our advisor […] The post Ask an Advisor: We’re 56 With $1.2 Million in Investments and Savings. Can We Afford to Withdraw $60k-$80k Per Year in Retirement? appeared first on SmartReads b
SmartAsset•3h ago
Trump poised to clinch $1.3 billion social media company stock award
Donald Trump is set to secure on Tuesday a stock bonus worth $1.3 billion from the company that operates his social media app Truth Social, equivalent to about half the majority stake he already owns in it, thanks to the wild rally in its shares. The award will take the former U.S. President's overall stake in the company, Trump Media & Technology Group (TMTG), to $4.1 billion. While Trump has agreed not to sell any of his TMTG shares before September, the windfall represents a significant boost to his wealth, which Forbes pegs at $4.7 billion.
Reuters•8h ago
It's Time to Ditch These 2 "Magnificent Seven" Stocks and Replace Them With 2 Bona Fide Outperformers
Among Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta Platforms, and Tesla, there are two former highfliers that are no longer magnificent.
Motley Fool•1d ago
If You'd Invested $250 in Berkshire Hathaway 5 Years Ago, Here's How Much You'd Have Today
Berkshire stock produced huge gains for decades. But what about the last five years?
Motley Fool•1d ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

UK charity pockets $150 million from Merck cancer immunotherapy drug

Recommended Stories

Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'

The IRS says it’s going after wealthy tax cheats. Here’s what new audit stats show.

Super Micro Computer (SMCI) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

California McDonald's Franchise Owner Says, 'The Focus Is On Survival' With 'Unprecedented' $20 Per Hour Minimum Wage Forcing Higher Prices

Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters

The Bond Market Is Sounding Its Most Severe Alarm in Decades, and It Could Mean Trouble for the Stock Market

Ask an Advisor: We're 56 With $1.2 Million in Investments and Savings. Can We Afford to Withdraw $60k-$80k Per Year in Retirement?

Trump poised to clinch $1.3 billion social media company stock award

It's Time to Ditch These 2 "Magnificent Seven" Stocks and Replace Them With 2 Bona Fide Outperformers

If You'd Invested $250 in Berkshire Hathaway 5 Years Ago, Here's How Much You'd Have Today