AstraZeneca Sells Seroquel and Seroquel XR Rights in Europe, Russia
October 30 2019 - 3:47AM
Dow Jones News
By Adria Calatayud
AstraZeneca PLC (AZN.LN) said Wednesday that it has agreed to
sell and license commercial rights to its Seroquel and Seroquel XR
drugs in Europe and Russia to Cheplapharm Arzneimittel GmbH for up
to $239 million.
The company said Cheplapharm will make an initial payment of
$178 million and might make a further payment of up to $61 million
subject to future sales, the U.K. pharmaceutical company said.
AstraZeneca said the deal will allow it to focus on its main
therapy areas. The company had previously sold rights to the drugs
in the U.K., Japan and other major international markets.
AstraZeneca will continue to manufacture and supply Seroquel and
Seroquel XR--anti-psychotic medicines with antidepressant
properties--to Cheplapharm during a transition period,
For 2018, pretax profit attributable to the drugs in Europe and
Russia was $86 million, AstraZeneca said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
October 30, 2019 03:32 ET (07:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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