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    HomeNewsWorldAstraZeneca to sell antibiotics business to Pfizer

    AstraZeneca to sell antibiotics business to Pfizer

    The portfolio includes approved antibiotics Merrem, Zinforo and Zavicefta, and ATM-AVI and CXL, which are in clinical development, it said.

    August 24, 2016 / 12:45 IST

    Pharmaceutical company AstraZeneca said it had agreed to sell its small molecule antibiotics business to Pfizer in a deal that could reach more than USD 1.5 billion.

    The portfolio includes approved antibiotics Merrem, Zinforo and Zavicefta, and ATM-AVI and CXL, which are in clinical development, it said.

    Pfizer will pay USD 550 million upon completion and a further unconditional USD 175 million in January 2019, AstraZeneca said, plus up to USD 250 million in milestones, up to USD 600 million in sales-related payments and recurring, double-digit royalties on future sales of Zavicefta and ATM-AVI in certain markets.

    The British company said the agreement did not impact its financial guidance for 2016.

    first published: Aug 24, 2016 12:45 pm

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