16th Dec 2019 07:57
(Alliance News) - AstraZeneca PLC said Monday it has divested its commercial rights to schizophrenia and bipolar disorder drugs Seroquel and Seroquel XR in Europe and Russia to Germany's Cheplapharm Arzneimittel GmbH.
The FTSE 100-listed pharmaceutical firm has received an upfront payment of USD178 million from Cheplapharm, and may also receive future sales-contingent payments of up to USD61 million.
Earlier in December, Astra had divested its rights to Seroquel and Seroquel XR in the US and Canada to Cheplapharm, for an upfront consideration of USD35 million, plus sales-contingent payments of up to USD6 million.
The two atypical anti-psychotic drugs are largely used to treat schizophrenia and bipolar disorder, although Seroquel XR - the extended release form of the drug - also is approved in some markets as a treatment for major depressive disorder and generalised anxiety disorder.
For 2018, Astra said the aggregate pretax profit attributable to Seroquel and Seroquel XR in Europa and Russia was USD86 million.
By Dayo Laniyan; [email protected]
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