Astra Signs Obesity Deal in China Worth Up to $18.5 Billion

AstraZeneca Plc agreed to pay Chinese company CSPC Pharmaceutical Group Ltd. as much as $18.5 billion for its obesity drug candidates, as the British drugmaker tries to push into the growing weight-loss market.

The agreement will see AstraZeneca pay $1.2 billion for eight such contenders, including four injectable therapies with the potential to treat obesity and other weight-related conditions, according to a statement Friday.