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
Upon FoodBev Media’s return from Vitafoods 2022 – which took place from 10-12 May in Geneva, Switzerland – the team reflects on the event’s aim to bring together international nutraceutical suppliers and experts from across the globe.
Following a strategic review last year, Mondelēz International is planning to sell its developed chewing gum business, which includes brands Trident and Dentyne. This is in addition to offloading its Halls cough drop brand, as the food giant focuses on generating 90% of revenue in its chocolates and biscuits businesses, including baked snacks.
Givaudan has unveiled NaNino+, a patent-pending combination of plant-based ingredients and natural flavorings that can replace nitrite in processed meat. Designed with natural ingredients, it provides a lasting multi-sensorial food experience with a good taste, color and freshness.
