AstraZeneca Sells Rights to Two Cancer Medicines for $181 Million Up Front

Date : 12/20/2019 @ 7:41AM
Source : Dow Jones News
Stock : AstraZeneca PLC (AZN)
Quote : 48.94  -0.37 (-0.75%) @ 11:46PM
After Hours
Last Trade
Last $ 48.94 ◊ 0.00 (0.00%)

AstraZeneca Sells Rights to Two Cancer Medicines for $181 Million Up Front

Astrazeneca (LSE:AZN)
Historical Stock Chart

3 Months : From Nov 2019 to Feb 2020

Click Here for more Astrazeneca Charts.
   By Carlo Martuscelli 
 

AstraZeneca PLC (AZN.LN) said Friday that it is selling the rights to two cancer medicines that have lost their patent protection for an upfront payment of $181 million, plus up to $17 million in royalties.

The British drug maker said it divested the rights to Arimidex and Casodex in a number of European, African and other countries to Juvise Pharmaceuticals. U.S. rights to the drugs were already sold in the U.S. previously.

The transaction is part of a broader strategy of exiting mature medicines in order to allocate more financial resources to develop drugs in the research pipeline, Dave Fredrickson, executive vice president of the oncology business, said.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

December 20, 2019 02:26 ET (07:26 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest AZN Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.