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AstraZeneca and Daiichi Sankyo to jointly develop cancer drug

March 28 (Reuters) - British drugmaker AstraZeneca Plc said late on Thursday it entered into a collaboration deal with Daiichi Sankyo Co Ltd of Japan to develop trastuzumab deruxtecan, a proprietary antibody-drug conjugate for cancer treatment.

Under the terms of the deal, AstraZeneca will pay Daiichi Sankyo up to $6.90 billion in total consideration, including $1.35 billion in upfront payment, Daiichi said in a separate statement. (Reporting by Bhargav Acharya in Bengaluru; Editing by Sandra Maler)