AstraZeneca Sells Seroquel Rights to Cheplapharm
December 03 2019 - 2:47AM
Dow Jones News
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.
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