UCLA Sells Its Royalty Rights to Drug for $520 Million

The University of California at Los Angeles announced Friday that it has sold its royalty interest in a leading prostate cancer medication, Xtandi, for $520 million. The rights were co-owned by several entities and people, including UCLA and those who while researchers at UCLA did work that led to the drug's creation. UCLA plans to use the proceeds to support research programs, as well as undergraduate and graduate scholarships.