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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Aspen Group | ASX:APZ | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.72 | 1.715 | 1.74 | 0.00 | 23:00:00 |
From May 2019 to May 2024
By Ian Walker
Pharmaceutical company AstraZeneca PLC (AZN.LN) said Thursday that Aspen Group's (APZ.AU) unit will buy the remaining rights to its anesthetic medicines for up to $766 million.
Following the initial deal entered into in June 2016--which saw Aspen Global Incorporated gain exclusive commercialization rights to the medicines in markets outside the U.S.--Aspen Global will now buy the remaining rights to Diprivan, EMLA, Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest.
It is paying an initial $555 million for the remaining rights to the intellectual property and manufacturing knowledge related to the anesthetic medicines, plus a further $211 million based on performance.
AstraZeneca said it will continue to manufacture and supply the medicines to Aspen Global during a transition period of up to five years.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
September 14, 2017 02:41 ET (06:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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