AstraZeneca: sells US drug rights to respiratory drug

(CercleFinance.com) - AstraZeneca said on Tuesday that it has agreed to sell US rights to its respiratory drug Synagis to Sweden's Sobi for 1.
5 billion dollars.

The deal also means that Sobi will also have the right to participate in AstraZeneca's share of US profits related to its potential new medicine MEDI8897, which is being developed for the prevention of serious lower respiratory tract infection caused by respiratory syncytial virus in infants.

AstraZeneca will receive 1 billion dollars in cash and 500 million euros of Sobi ordinary shares, representing a 8% stake in the firm. The drugmaker will also receive sales-related payments for Synagis.

Synagis is used for the prevention of serious lower respiratory tract infection caused by respiratory syncytial virus.

The move is part of a drive to streamline the portfolio, AstraZeneca said.

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