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Share Price Information for Astrazeneca (AZN)

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Share Price: 12,028.00
Bid: 12,032.00
Ask: 12,036.00
Change: 98.00 (0.82%)
Spread: 4.00 (0.033%)
Open: 12,108.00
High: 12,142.00
Low: 11,994.00
Prev. Close: 11,930.00
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AstraZeneca sells antibiotics business to Pfizer for £1.2bn

Wed, 24th Aug 2016 07:11

(ShareCast News) - AstraZeneca has agreed to sell its antibiotics business to US giant Pfizer for staged payments amounting to $1.6bn (£1.2bn) plus recurring, double-digit royalties on future sales.The FTSE 100 group said the sale would reinforces its focus on developing medicines in its three main therapy areas, while realising value from what it said was a strong portfolio of established and late-stage antibiotics through Pfizer's commercialisation and development abilities.An up-front payment of $550m on completion of the deal, which is expected in the fourth quarter of 2016, will be followed by an unconditional payment of $175m in January 2019 for the commercialisation and development rights to approved antibiotics Merrem, Zinforo and Zavicefta, as well as two still in development, ATM-AVI and CXL.Furthermore, Pfizer will pay up to $250m in commercial, manufacturing and regulatory milestones, up to $600m in sales-related payments as well as recurring, double-digit royalties on future sales of Zavicefta and ATM-AVI in certain markets.AstraZeneca, which generated product sales from Merrem and Zinforo in 2015 of $250m, said the agreement does not impact its financial guidance for 2016 and stressed that MedImmune's portfolio of biologic products such as FluMis and Synagis, and AstraZeneca's stake in Entasis Therapeutics, spun-off in 2015 and now operating as a stand-alone company, are not included as part of the agreement."This agreement reinforces our strategic focus to invest in our three main therapy areas where we can make the greatest difference to patients' lives," said Luke Miels, AstraZeneca's executive vice president for Europe and head of the antibiotics business unit."We're pleased that our strong science in antibiotics will continue to serve a critical public health need through Pfizer's dedicated focus on infectious diseases, ensuring these important medicines reach greater numbers of patients around the world."
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22 Sep 2023 07:27

AstraZeneca reports positive findings from breast cancer threatment trial

(Sharecast News) - New high-level results from AstraZeneca's TROPION-Breast01 phase three trial, released on Friday, carried encouraging news for patients with inoperable or metastatic hormone receptor (HR)-positive, HER2-low or negative breast cancer.

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20 Sep 2023 08:44

TOP NEWS: AstraZeneca's rare disease business buys Pfizer portfolio

(Alliance News) - AstraZeneca PLC on Wednesday said rare disease business Alexion has signed a purchase and licence agreement for a rare disease programme portfolio from Pfizer Inc.

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15 Sep 2023 15:27

AstraZeneca and Daiichi Sankyo's Enhertu recommended for approval

(Alliance News) - AstraZeneca PLC and Daiichi Sankyo Co Ltd's Enhertu has been recommended for approval in the EU on Friday.

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14 Sep 2023 08:25

Smith & Nephew brings BT Chief Financial Officer Simon Lowth to board

(Alliance News) - Smith & Nephew PLC on Thursday announced that BT Group PLC's chief financial officer, Simon Lowth, will join the board as independent non-executive director on January 1.

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11 Sep 2023 21:54

AstraZeneca says Fasenra therapy meets primary endpoint at trial

(Alliance News) - AstraZeneca PLC on Monday said that its therapy, Fasenra, met the primary endpoint in the Mandara phase three trial in eosinophilic granulomatosis with polyangiitis.

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11 Sep 2023 10:17

UPDATE: AstraZeneca has good results from three cancer drugs in trials

(Alliance News) - AstraZeneca PLC reported positive clinical results of combinations of its Imfinzi and Tagrisso drugs with other treatments for lung cancer, while also seeing "strong and durable" tumour responses from its Enhertu antibody drug conjugate.

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11 Sep 2023 07:54

LONDON BRIEFING: Restaurant Group sells Frankie & Benny's and Chiquito

(Alliance News) - Stocks in London are called higher on Monday, ahead of a busy week of interest rate decisions and economic data.

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11 Sep 2023 06:59

AstraZeneca says Imfinzi and Tagrisso combinations show good results

(Alliance News) - AstraZeneca PLC reported positive clinical results of combinations of its Imfinzi and Tagrisso drugs with other treatments for cancer.

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6 Sep 2023 09:36

AstraZeneca working with FDA on Ultomiris risk evaluation changes

(Alliance News) - AstraZeneca PLC on Wednesday said it is working closely with the US Food & Drug Administration regarding a request to changes to improve risk evaluation for Ultomiris.

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6 Sep 2023 07:45

AstraZeneca working with FDA on finer details of Ultomiris treatment

(Sharecast News) - Pharma giant AstraZeneca said it is "working closely" with US regulators to clarify some details of its Ultomiris drug as it hopes to bring the treatment to market as quickly as possible for people suffering from the rare disease, neuromyelitis optica spectrum disorder (NMOSD).

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4 Sep 2023 15:46

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4 Sep 2023 12:13

LONDON MARKET MIDDAY: Hopes of rate peak, China turnaround lift stocks

(Alliance News) - Stock prices in London were higher at midday on Monday, with market mood buoyed by news of stimulus measures in China and increasing optimism for the future of interest rates across the Atlantic.

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4 Sep 2023 08:25

IN BRIEF: Astra drug gets China okay for chronic lymphocytic leukaemia

AstraZeneca PLC - Cambridge-based pharmaceutical maker - Astra's Calquence is approved in China for treatment of chronic lymphocytic leukaemia or small lymphocytic lymphoma in adult patients who have received at least one prior therapy. The National Medical Products Administration approves Calquence, whose generic name is acalabrutinib, based on two different trials, including one in China. Astra notes that CLL is the most prevalent type of adult leukaemia around the world and represents about 6.4% of B-cell non-Hodgkin lymphoma patients in China. Calquence already is approved for treatment of CLL and SLL in the US and Japan and is approved for CLL in the EU.

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4 Sep 2023 07:36

LONDON BRIEFING: CMC names new CFO; takeover offer for Ergomed

(Alliance News) - Stocks in London are expected to open on a positive note on Monday, amid an improvement in global risk sentiment.

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29 Aug 2023 20:24

Blood thinners, diabetes meds among first 10 drugs for US price negotiations

Aug 29(Reuters) - The Biden administration on Tuesday released its list of 10 prescription medicines that will be subject to the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people, with big-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer among them.

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