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| Name | Symbol | Market | Type |
|---|---|---|---|
| AstraZeneca PLC | NYSE:AZN | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 54.17 | 0 | 01:00:00 |
From May 2019 to May 2024
AstraZeneca PLC said it has agreed to sell part of its antibiotics business to Pfizer Inc. for up to $1.575 billion plus royalties.
Under the terms of the deal Pfizer will pay Astra $550 million upfront plus an unconditional $175 million in January 2019. Then, depending on the progress and commercial success of the drugs in question, it will pay a further $850 million plus royalties.
The deal involves three already-approved antibiotics and two drugs in clinical trials. It will give Pfizer the right to sell those drugs in most markets outside the U.S.
It doesn't involve Astra's portfolio of biological anti-infective drugs, or the business it spun out last year to focus on the development of innovative anti-infectives.
Write to Denise Roland at Denise.Roland@wsj.com
(END) Dow Jones Newswires
August 24, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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