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Home Industry News AstraZeneca to sell off remaining anaesthetic rights to Aspen

AstraZeneca to sell off remaining anaesthetic rights to Aspen

15th September 2017

AstraZeneca has announced an agreement with Aspen that will see it sell off its remaining rights to a number of anaesthetic medicines.

Under the terms of the deal, Aspen Global Incorporated will acquire the residual rights to Diprivan, Emla, Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest.

This builds on a previous agreement from June 2016, under which Aspen gained the exclusive commercialisation rights to the medicines in markets outside the US. The firm will now receive all remaining rights and manufacturing expertise related to these medicines for an upfront consideration of $555 million (409.68 million pounds).

Additionally, Aspen will pay AstraZeneca up to $211 million in performance-related milestones based on sales and gross margin during the period from September 2017 to November 2019, while AstraZeneca has agreed to continue to manufacture and supply the medicines during a transition period of up to five years.

Mark Mallon, executive vice-president for global product and portfolio strategy at AstraZeneca, said: "Disposing the remaining rights to the medicines allows both companies to benefit from greater efficiencies as AstraZeneca continues to focus our resources on our three main therapy areas."

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