AZN Astrazeneca Plc

TIDMAZN

RNS Number : 0968B

AstraZeneca PLC

31 March 2017

31 March 2017 07:00 BST

ASTRAZENECA COMPLETES AGREEMENT WITH TERSERA THERAPEUTICS FOR COMMERCIAL RIGHTS TO ZOLADEX IN THE US AND CANADA

AstraZeneca today announced that it has completed the agreement with TerSera Therapeutics LLC for the commercial rights to Zoladex (goserelin acetate implant) in the US and Canada. Zoladex is an injectable luteinising hormone-releasing medicine, used to treat prostate cancer, breast cancer and certain benign gynaecological disorders. It was first approved in the US and Canada in 1989.

Under the terms of the agreement, AstraZeneca has received a payment of $250 million from TerSera for the commercial rights to the medicine in the US and Canada. As AstraZeneca will maintain a significant ongoing interest in Zoladex in the US and Canada, the payment will be reported as Externalisation Revenue in the Company's financial statements, and will be booked in the first quarter of 2017.

AstraZeneca will receive future sales-related income through milestones totalling up to $70 million, as well as recurring quarterly sales-based payments at mid-teen percent of sales. AstraZeneca will also manufacture and supply Zoladex to TerSera, providing a further source of ongoing income from Zoladex in the US and Canada.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of Autoimmunity, Neuroscience and Infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.

 
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Adrian Kemp

Company Secretary, AstraZeneca PLC

This information is provided by RNS

The company news service from the London Stock Exchange

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