Genzyme unit of the French drugmaker will be paying AstraZeneca $165 million to buy the global rights for selling and further developing Caprelsa.
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LONDON AstraZeneca (AZN.L), beneath strain from falling gross sales of older medicine, is promoting a drugs for a rare sort of cancer to Sanofi (SASY.PA) because it continues a drive to increase money by divesting sure belongings.
Caprelsa (vandetanib) is a rare disease medicine used for treatment of aggressive and symptomatic medullary thyroid carcinoma.
David Meeker, Genzyme’s president and CEO, said: “The addition of Caprelsa represents a strong strategic fit for our rare endocrinology portfolio and underscores Genzyme’s commitment to addressing unmet needs in the thyroid community”. AstraZeneca noted in the statement that Caprelsa’s global product sales stood at $48 million a year ago.
The acquisition builds on Genzyme’s long-standing commitment and scientific leadership in the field of endocrinology globally. The transaction does not include the transfer of any AstraZeneca employees or facilities, according to Sanofi.
The divestment transaction is subject to closing conditions, including the receipt of antitrust clearance from the US Federal Trade Commission.
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With AstraZeneca reporting second-quarter results on Thursday, analysts expect such deals to prop up the company’s results through 2015. A late-stage trial is expected to be complete before the end of 2015, and the companies also expect to close the sale by the end of the year pending approval from regulators.
