AstraZeneca Sells Rights to Two Cancer Medicines for $181 Million Up Front
20 Dicembre 2019 - 8:41AM
Dow Jones News
By Carlo Martuscelli
AstraZeneca PLC (AZN.LN) said Friday that it is selling the
rights to two cancer medicines that have lost their patent
protection for an upfront payment of $181 million, plus up to $17
million in royalties.
The British drug maker said it divested the rights to Arimidex
and Casodex in a number of European, African and other countries to
Juvise Pharmaceuticals. U.S. rights to the drugs were already sold
in the U.S. previously.
The transaction is part of a broader strategy of exiting mature
medicines in order to allocate more financial resources to develop
drugs in the research pipeline, Dave Fredrickson, executive vice
president of the oncology business, said.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
December 20, 2019 02:26 ET (07:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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