AstraZeneca sells US Zoladex rights to TerSera Therapeutics

AstraZeneca has announced the sale of commercial rights to the cancer drug Zoladex in the US and Canada to TerSera Therapeutics.

TerSera will pay AstraZeneca $250 million (200.88 million pounds) upon completion of the deal, which is expected to expand the commercial potential of Zoladex in North America.

AstraZeneca will also receive sales-related milestone payments totalling up to $70 million, as well as recurring quarterly sales-based fees at a mid-teen percentage of product sales. Under the terms of the deal, AstraZeneca will continue to manufacture and supply Zoladex.

Mark Mallon, executive vice-president for global product and portfolio strategy at AstraZeneca, said: "This agreement allows us to retain a significant share of the value of Zoladex in the US and Canada, while concentrating our resources on our innovative new oncology medicines."

In 2016, product sales for Zoladex reached $69 million in the US and Canada and $816 million globally. AstraZeneca will continue to commercialise Zoladex in all markets outside the US and Canada.

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