AstraZeneca: sells European rights to cancer drugs
(CercleFinance.com) - AstraZeneca said on Friday that it had agreed to sell the commercial rights in certain European and African countries to its cancer drugs Arimidex and Casodex to unlisted French pharmaceutical group Juvisé.
Under the terms of the deal, Juvisé has made an upfront payment of 181 million dollars to AstraZeneca and may also make future sales-contingent payments of up to 17 million dollars, the company said.
The medicines, which are primarily used to treat breast and prostate cancers, have lost their patent protection.
As a reminder, AstraZeneca already sold the rights to both Arimidex and Casodex in the US in 2017.
The move matches the company's strategy of reducing its portfolio of mature drugs to reallocate resources towards developing a pipeline of new products.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms of the deal, Juvisé has made an upfront payment of 181 million dollars to AstraZeneca and may also make future sales-contingent payments of up to 17 million dollars, the company said.
The medicines, which are primarily used to treat breast and prostate cancers, have lost their patent protection.
As a reminder, AstraZeneca already sold the rights to both Arimidex and Casodex in the US in 2017.
The move matches the company's strategy of reducing its portfolio of mature drugs to reallocate resources towards developing a pipeline of new products.
Copyright (c) 2019 CercleFinance.com. All rights reserved.