27th Jul 2015 06:23
LONDON (Alliance News) - FTSE 100-listed pharmaceutical giant AstraZeneca PLC on Monday said it has signed an agreement with Genzyme to sell Astra's Caprelsa rare disease medicine.
AstraZeneca said Genzyme will pay it up to USD300 million, including a USD165 million upfront payment, to acquire the global rights to sell and develop Caprelsa.
Caprelsa was granted Orphan Drug Designation by the US Food and Drug Administration in 2005 and is currently available in 28 countries for the treatment of aggressive and symptomatic medullary thyroid carcinoma, AstraZeneca said.
"Caprelsa is a rare disease therapy and the divestment to Genzyme, an expert leader in endocrinology, demonstrates our commitment to ensure patients continue to have access to this medicine while we sharpen our focus on key disease areas," said Luke Miels, executive vice-president for global product and portfolio strategy and corporate affairs at AstraZeneca.
By Sam Unsted; [email protected]; @SamUAtAlliance
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