In a deal that could be worth more than $1.5bn (£1.1bn), the British pharmaceutical group said it would sell its late-stage small molecule antibiotics business in most markets outside the U.S. to Pfizer.
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Back in 2014, AstraZeneca had rejected a $116-billion takeover bid from Pfizer after a lengthy unsolicited courtship.
The deal will allow AstraZeneca to focus on three main therapy areas and realize value “from the strong portfolio of established and late-stage small molecule antibiotics”.
The medicines include approved antibiotics Merrem, Zinforo and Zavicefta, and ATM-AVI and CXL, which are in clinical development, AstraZeneca said.
On Monday, Pfizer said it is to acquire cancer drug company Medivation in a deal valued at about 14 billion USA dollars (£10.6 billion).
The deal for the company’s small-molecule antibiotics, or those developed using traditional chemistry, is expected to complete in the fourth quarter, AstraZeneca said in a statement.
The US drug manufacturer will also pay up to $250m in commercial, manufacturing and regulatory milestones, up to $600 million in sales-related payments as well as recurring, double-digit royalties on sales of Zavicefta and ATM-AVI in certain markets.
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