AstraZeneca Divests Rights of Seroquel and Seroquel XR to Cheplapharm in Europe and Russia

 AstraZeneca Divests Rights of Seroquel and Seroquel XR to Cheplapharm in Europe and Russia

AstraZeneca Divests Rights of Seroquel and Seroquel XR to Cheplapharm in Europe and Russia

Shots:

  • AstraZeneca to receive $178M up front and up to $61M as sales-contingent payments while it continues to manufacture and supply Seroquel and Seroquel XR to Cheplapharm during a transition period. The transaction is expected to be closed in Q4’19
  • The divestiture will allow AstraZeneca to focus on its main therapeutic areas by reducing its portfolio of mature medicines
  • Seroquel & Seroquel XR are anti-psychotic therapies with antidepressant properties indicated to treat schizophrenia and bipolar disorder and has generated $47M & $61M revenue in 2018 in EU & Russia

Click here to­ read full press release/ article | Ref: AstraZeneca | Image: The Business Journal

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

Related post