AstraZeneca to acquire full rights to collaboratively-developed drugs

AstraZeneca is to acquire the sole rights to a number of treatments it has developed in conjunction with Merck Sharpe and Dohme after exercising an option in their agreement.

The pharmaceutical company will be acquiring Merck Sharpe and Dohme’s interest in products such as Entocort, Plendil and Atacand following a restructuring of their joint venture.

This move is set to be completed by April 2010, with Merck Sharpe and Dohme to receive a payment of $647 million (432.4 million pounds) for its share of the rights.

Under the terms of the original agreement, AstraZeneca’s decision to exercise this option means that it now has the additional opportunity to repurchase its partner’s interest in the drugs Prilosec and Nexium.

This will be exercisable in 2012 at the earliest.

Last week, AstraZeneca agreed a new collaboration with Rigel Pharmaceuticals on the development of fostamatinib disodium, a potentially promising new treatment for rheumatoid arthritis.