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
A record $435 million was invested in alternative protein fermentation companies in the first seven months of 2020, according to data by The Good Food Institute (GFI). To date, GMI’s […]
Coca-Cola European Partners (CCEP), in partnership with Coca-Cola Great Britain, today announces that all plastic bottles across all its core brands made in Great Britain are now made with 50% […]
Unilever has teamed up with Google Cloud in a programme that combines cloud computing with satellite imagery and AI to improve its product sourcing strategy. Together, the companies will first focus […]