AstraZeneca has signed a commercialisation agreement with Aspen Global Incorporated (AGI) for rights to its global anaesthetics portfolio outside the US.
The deal will see AGI acquire commercialisation rights to AstraZeneca's portfolio of anaesthetic medicines for an upfront fee of $520 million (359.59 million pounds), plus up to $250 million in product sales-related fees and double-digit percentage trademark royalties.
“AstraZeneca has provided commercialisation rights to its anaesthetic portfolio to Aspen Global Incorporated outside the US.“
Seven established medicines will be covered by the agreement: the general anaesthetic Diprivan, the topical product EMLA and five local anaesthetics, Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest.
AstraZeneca will continue to manufacture and supply the products on a cost-plus basis to AGI for an initial period of ten years. Upon completion, Aspen will assume responsibility for all activities relating to the sale of the portfolio in the markets covered by the deal.
Pascal Soriot, chief executive officer at AstraZeneca, said: "AstraZeneca has a rich heritage in anaesthetic medicines and this agreement will extend the reach of our established portfolio to a greater number of patients through AGI's extensive commercial network."
These products are available in more than 100 countries worldwide, including key markets such as China, Japan, Australia and Brazil. US rights to these anaesthetics were sold to Abraxis in 2006.See all the latest jobs in Pharmaceutical