Pharmaceutical company AstraZeneca said it had agreed to sell its small molecule antibiotics business to Pfizer in a deal that could reach more than $1.5 billion.
The portfolio includes approved antibiotics Merrem, Zinforo and Zavicefta, and ATM-AVI and CXL, which are in clinical development, it said.
Pfizer will pay $550 million upon completion and a further unconditional $175 million in January 2019, AstraZeneca said, plus up to $250 million in milestones, up to $600 million in sales-related payments and recurring, double-digit royalties on future sales of Zavicefta and ATM-AVI in certain markets.
The British company said the agreement did not impact its financial guidance for 2016.
By Paul Sandle
Source: Reuters
A new wave of brands is emerging that promotes indulgence and rejects the notion of sacrifice. Low-maintenance “hangover” beauty products are designed to address the effects of late nights and partying without judgment or hassle, and even include cosmetics that are formulated in a way that means you can fall asleep in your makeup without feeling guilty.
The pilot will allow the company to scale circular packaging in about 18 markets over the next three years, an approach that jumps on the success of similar efforts in the company’s Indonesia ecoSPIRITS program, which launched in 2022 and is active in 38 bars.
Unilever’s focus on purpose across its brands has been a source of criticism from some of its investors. Its new CEO Hein Schumacher says the company now recognises there are some brands where the concept is simply not relevant.
