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AstraZeneca: sells US rights for schizophrenia drug

(CercleFinance.com) - AstraZeneca has agreed to sell the commercial rights to its schizophrenia drug Seroquel in the US and Canada to Germany's Cheplapharm, the company said on Tuesday.

The move comes as part of the Anglo-Swedish drugmaker's strategy to reduce the number of mature medicines in its portfolio to enable reinvestment in main therapy areas, it said.

Seroquel and Seroquel XR, which are primarily used to treat schizophrenia and bipolar disorder, have lost their compound patent protection in the US and Canada.

Cheplapharm recently bought the commercial rights to Seroquel in most European markets and Russia.

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