Pharmaceutical giant AstraZeneca PLC said Thursday it has reached an agreement with Aspen Pharmacare Holdings Ltd. giving the Johannesburg-listed company rights to its anesthetics portfolio outside the U.S.
Under the deal, Aspen Global Incorporated, a unit of Aspen Pharmacare, will buy commercialization rights outside the U.S. to the portfolio for an upfront payment of $520 million.
Aspen will also pay AstraZeneca up to $250 million in a product sales-related payment, as well as double-digit percentage trademark royalties on product sales.
AstraZeneca said it will manufacture and supply the products on a cost plus basis to Aspen for an initial period of 10 years. Upon completion, Aspen will assume responsibility for all activities relating to the sale of the portfolio in all relevant markets, AstraZeneca added.
The deal isn’t expected to impact AstraZeneca’s financial guidance this year, the company said.
By Ian Walker
Source: MarketWatch
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