Reuters logo
8 months ago
BRIEF-AstraZeneca completes sale of antibiotics business to Pfizer
December 23, 2016 / 7:14 AM / 8 months ago

BRIEF-AstraZeneca completes sale of antibiotics business to Pfizer

Dec 23 (Reuters) - AstraZeneca Plc

* AZ completes sale of antibiotics business

* Has completed agreement with Pfizer Inc for sale of commercialisation and development rights to its late-stage small molecule antibiotics business

* AstraZeneca has received a payment of $550 million for commercialisation and development rights to late-stage antibiotics business in all markets where AstraZeneca holds rights

* Pfizer will pay a further $175 mln in January 2019, up to $250 mln in commercial, manufacturing and regulatory milestones

* Pfizer will pay up to $600 mln in sales-related payments as well as recurring, double-digit royalties

* $550 mln upfront and $175 mln unconditional payment will both be booked in Q4 of 2016, net of a product intangible Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below