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AstraZeneca strikes global commercial rights deal for $243m

Published on 02/10/19 at 10:11am

Cambridge-headquartered AstraZeneca have agreed to sell certain global commercial rights for its Losec brand, in a deal that is worth around $243 million.

Losec is a proton pump inhibitor discovered and developed by AstraZeneca. It assists in reducing the amount of acid produced by the stomach in patients with gastrointestinal reflux conditions and ulcers.

The divestment also includes medications containing omeprazole marketed by AstraZeneca under the Acimax, Antra, Mepral, Mopral, Omepral and Zoltum medicine names.

AstraZeneca has sold the global commercial rights to the product, excluding Japan, China, the US and Mexico to German pharmaceutical company Cheplapharm Arzneimittel.

Ruud Dobber, Executive Vice President at AstraZeneca, said: “This agreement forms part of our strategy of reducing the portfolio of mature medicines to enable reinvestment in our main therapy areas, accelerating the number of innovative new medicines for patients with high unmet medical need.

“We already have an excellent relationship with Cheplapharm, and their strong European presence and global distribution network will help ensure continued patient access to Losec.”

AstraZeneca will continue to manufacture and supply Losec and its associated medicines, as well as commercialise the medicine in markets where it still retains the rights.

Under the terms of the agreement, and in addition to Cheplapharm paying AstraZeneca approximately $243 million on completion, there will be sales-contingent milestones of up to $33 million in 2021 and 2022.

Nik Kiran

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