LONDON (Alliance News) - Drugmaker AstraZeneca PLC on Thursday said it has entered a commercialisation deal with Aspen Global Inc, part of US pharmaceuticals company Aspen Group, for the rights to Astra's anaesthetics portfolio outside the US.
The agreement will cover seven established medicines and five local anaesthetics.
Aspen will buy the commercialisation rights to the portfolio for an upfront USD520.0 million and will pay AstraZeneca up to USD250.0 million more under a product sales-related payment, along with double-digit percentage trademark royalties on sales of the products.
"AstraZeneca has a rich heritage in anaesthetic medicines and this agreement will extend the reach of our established portfolio to a greater number of patients through AGI's extensive commercial network. This agreement supports our strategic focus on the new medicines in three main therapy areas," said Pascal Soriot, AstraZeneca's chief executive.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Astrazeneca (AZN)
