AstraZeneca Strikes $6 Billion Cancer Drug Deal

LONDON—AstraZeneca PLC has agreed to pay Japan’s Daiichi Sankyo Co. up to $6 billion to jointly develop and commercialize a cancer drug it says could help redefine the way the disease is treated, in the British company’s latest push into oncology.

The therapy, an antibody drug conjugate named DS-1062, targets a range of cancers—including lung and breast—that produce a protein known as TROP2. It is designed to deliver chemotherapy just to those cells, leaving healthy ones alone, potentially limiting side effects.