AZ sells Seroquel and Seroquel XR rights in North America to Cheplapharm

The commercial rights to Seroquel and Seroquel XR, for the treatment of bipolar disorder and schizophrenia, in Canada and the US are currently owned by AstraZeneca. However, following the treatment’s loss of patent protection, the company has made the decision to sell the rights to Cheplapharm Arzneimittel GmbH (Cheplapharm), with a settled agreement of thirty-five million dollars upfront and potential payments in the future.

AZ’s Executive Vice President, BioPharmaceuticals Business Unit, Ruud Dobber, stated: “This divestment supports our strategy of reducing the number of mature medicines to enable reinvestment in our main therapy areas. Cheplapharm recently agreed to acquire the commercial rights to Seroquel and Seroquel XR in most European markets and Russia from AstraZeneca and this new agreement will help ensure continued patient access to this important established medicine in North America as well.”