AstraZeneca Sells Seroquel Rights to Cheplapharm

Date : 12/03/2019 @ 7:47AM
Source : Dow Jones News
Stock : Astrazeneca Plc (AZN)
Quote : 7659.0  2.0 (0.03%) @ 4:35PM
Astrazeneca share price Chart

AstraZeneca Sells Seroquel Rights to Cheplapharm

Astrazeneca (LSE:AZN)
Historical Stock Chart

2 Months : From Nov 2019 to Jan 2020

Click Here for more Astrazeneca Charts.
   By Adriano Marchese 
 

AstraZeneca PLC (AZN.LN) said Tuesday that it has agreed to sell the commercial rights to the drugs Seroquel and Seroquel XR in the U.S. and Canada to Cheplapharm Arzneimittel GmbH for an upfront payment of $35 million.

The U.K. pharmaceutical company said that as well as the upfront payment, there may also be future sales-contingent payments of up to $6 million.

The company said the agreement doesn't impact the company's financial guidance for 2019 and that the agreement became effective upon signing.

"This divestment supports our strategy of reducing the number of mature medicines to enable reinvestment in our main therapy areas," said Ruud Dobber, executive vice president of the biopharmaceuticals business unit.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

December 03, 2019 02:32 ET (07:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200126 09:40:23