AstraZeneca completes sale of small molecule antibiotics business to Pfizer

Regulatory News Service


23 December 2016 07:00


AstraZeneca today announced that it has completed the agreement with Pfizer Inc. for the sale of the commercialisation and development rights to its late-stage small molecule antibiotics business, comprising the approved antibiotics Merrem, Zinforo and Zavicefta, and ATM-AVI and CXL, which are in clinical development.

Under the agreement, AstraZeneca has received a payment of $550 million for the commercialisation and development rights to the late-stage antibiotics business in all markets where AstraZeneca holds the rights. In addition, Pfizer will pay a further $175 million in January 2019, up to $250 million in commercial, manufacturing and regulatory milestones, up to $600 million in sales-related payments as well as recurring, double-digit royalties on future sales of Zavicefta and ATM-AVI in certain markets.

As AstraZeneca will not maintain a significant future interest in the late-stage small molecule antibiotics business, all payments will be reported as Other Operating Income in the Company’s financial statements. The $550 million upfront and $175 million unconditional payment will both be booked in the fourth quarter of 2016, net of a product intangible.


About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.


CONTACTS

Media Enquiries

 

 

 

 

Neil Burrows

UK/Global

+44 203 749 5637

Vanessa Rhodes

UK/Global

+44 203 749 5736

Karen Birmingham

UK/Global

+44 203 749 5634

Rob Skelding

UK/Global

+44 203 749 5821

Jacob Lund

Sweden

+46 8 553 260 20

Michele Meixell

US

+1 302 885 2677

 

 

 

 

Investor Enquiries

 

 

     

Thomas Kudsk Larsen

 

+44 203 749 5712

Craig Marks

Finance, Fixed Income, M&A

+44 7881 615 764

Henry Wheeler

Oncology

+44 203 749 5797

Mitchell Chan

Oncology

+1 240 477 3771

Lindsey Trickett

Cardiovascular & Metabolic Diseases

+1 240 543 7970

Nick Stone

Respiratory

+44 203 749 5716

Christer Gruvris

Autoimmunity, neuroscience & infection

+44 203 749 5711

US Toll-Free

 

+1 866 381 7277

 

Adrian Kemp
Company Secretary
AstraZeneca PLC

tags

  • Regulatory