LONDON, Aug 24 (Reuters) - Pharmaceutical companyAstraZeneca said it had agreed to sell its smallmolecule antibiotics business to Pfizer in a deal thatcould reach more than $1.5 billion.
The portfolio includes approved antibiotics Merrem, Zinforoand Zavicefta, and ATM-AVI and CXL, which are in clinicaldevelopment, it said.
Pfizer will pay $550 million upon completion and a furtherunconditional $175 million in January 2019, AstraZeneca said,plus up to $250 million in milestones, up to $600 million insales-related payments and recurring, double-digit royalties onfuture sales of Zavicefta and ATM-AVI in certain markets.
The British company said the agreement did not impact itsfinancial guidance for 2016.
(Reporting by Paul Sandle; editing by Kate Holton)