Schrodinger expands pact with Otsuka, receives clearance for Novartis pact

Schrodinger (SDGR) announced that it has expanded its research collaboration with Otsuka Pharmaceutical to add another undisclosed target to the collaboration. The terms of the expanded collaboration are consistent with the previously announced agreement. Schrodinger also announced that its research collaboration with Novartis (NVS) has received regulatory clearance, and Schrodinger expects to receive the upfront payment of $150M from Novartis in the first quarter of 2025.