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Home Industry News AstraZeneca signs promotion agreement with PreMD

AstraZeneca signs promotion agreement with PreMD

17th July 2007

AstraZeneca Pharmaceuticals LP, an AstraZeneca subsidiary, has signed an exclusive licensing agreement with predictive medicine firm PreMD for the commercialisation and distribution of Prevu, a non-invasive skin cholesterol test that aids in the assessment of an individual’s chances of contracting coronary heart disease.

Under the terms of the agreement, AstraZeneca will pay PreMD an initial payment of $0.5 million (0.25 million pounds), with additional payments of up to $6 million to be paid upon reaching specified development and sales milestones, with PreMD also receiving a percentage of royalties on sales of the product.

In exchange, AstraZeneca will acquire the exclusive right to market and distribute this test to all parts of the healthcare community – including hospitals, doctors’ offices and retail outlets – in the US, while also retaining the right to negotiate a global contract with PreMD within three months.

Brent Norton, president and chief executive officer of PreMD, said: “As AstraZeneca is one of the world’s foremost leaders in cardiovascular medicine, we are delighted to partner with them on the entire line of our skin cholesterol tests.”

He added that these tests include a point-of-care test that has been approved by the US Food and Drug Administration, in addition to a lab-processed version of that test and other clinically-directed formats of this technology.

Last month, the NHS Alliance announced that it has formed a partnership with AstraZeneca, with the company seeking to support the group in the development of its Practice Based Commissioning federation.

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