Sobi™ to Acquire Synagis® US Rights From AstraZeneca – Creates a Platform for Global Growth – read this article along with other careers information, tips and advice on BioSpace
Source: www.biospace.com
AstraZeneca (NYSE: AZN), the Anglo–Swedish multinational pharmaceutical and biopharmaceutical company has agreed to sell US rights to Synagis (palivizumab) to Swedish Orphan Biovitrum AB (Sobi) for $1.0 billion in cash and $500 million in ordinary shares of Sobi. Synagis is used for the prevention of serious lower respiratory tract infection (LRTI) caused by respiratory syncytial virus (RSV). Sobi will commercialize Synagis in the US and around 130 AstraZeneca employees will transfer to Sobi as part of the transaction. Sobi will also have the right to participate in AstraZeneca’s share of US profits and losses related to potential new medicine MEDI8897. The agreement is subject to closing conditions and is expected to be completed by early 2019. AstraZeneca will also receive up to $470 million in sales-related payments for Synagis, plus a $175m milestone following the submission of the Biologics License Application for MEDI8897. Additionally, AZN may recieve potential net payments of approximately $110 million on achievement of other MEDI8897 profit and development-related milestones. Following completion of the acquisition, AstraZeneca will hold 8.1% ownership in Sobi.
