Pfizer to acquire AstraZeneca’s anti-infective business for $550 million upfront
pharmafile | August 24, 2016 | News story | Research and Development, Sales and Marketing | AstraZeneca, Pfizer, Zavicefta, anti-infective
Pfizer has announced that it is to acquire AstraZeneca’s small molecule anti-infective business in a deal potentially worth up to $1.5 billion.
An upfront payment of $550 million will be followed by a deferred payment of $175 payment in 2019. AstraZeneca is then eligible to receive up to $250 million in milestone payments, up to $600 million in sales-related payments, and tiered royalties on certain products.
The agreement will see Pfizer granted commercialisation and development rights to the recently EU-approved Zavicefta (ceftazidime-avibactam), a new combination antibiotic to treat serious Gram-negative bacterial infections. They will also gain rights to Merrem/Meronem (meropenem) and Zinforo (ceftaroline fosamil), as well as development drug assets aztreonam-avibactam (ATM-AVI) and CXL.
These acquired rights will apply mainly to markets outside the US. Pfizer expect the deal to enhance near-term revenue growth potential for its Essential Health business.
John Young, group president at Pfizer Essential Health, says: “As we continue to reshape our Essential Health portfolio, we are focusing on areas that further address global public health needs and that complement our core capabilities and experience in therapeutic areas, including anti-infectives. The addition of AstraZeneca’s complementary small molecule anti-infectives portfolio will help expand patient access to these important medicines and enhance our global expertise and offerings in this increasingly important area of therapeutics, in addition to providing the opportunity for near-term revenue growth.”
The transaction is expected to close in the fourth quarter of this year. It will not impact Pfizer’s full year financial guidance.
Sean Murray
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