AstraZeneca strikes cancer and anaesthetic deal with Abraxis

AstraZeneca, the UK’s second largest pharmaceutical company, has agreed with Abraxis BioScience to co-promote its new anti-cancer paclitaxel-based drug, Abraxane, in the US. AstraZeneca has also sold the rights to its anaesthetic and analgesics to Abraxis, which is part of American Pharmaceuticals Partnership.

Payments will be exchanged between the companies in both directions. For the co-promotion of Abraxane, AstraZeneca will pay Abraxis $200 million (112 million pounds) to market it in the US for five and a half years, as well as providing milestone payments and marketing support. Abraxis will in turn pay AstraZeneca $350 million for a five-year supply of its anaesthetic and analgesic drugs. AstraZeneca will also offer Abraxis first right of refusal to license these drugs outside of the US.

Tony Zook, president and chief operating officer of AstraZeneca US, said: “This deal gives AstraZeneca access to the key US chemotherapy market. Abraxane brings significant benefits to cancer patients over existing therapies and complements and extends our US oncology product portfolio.”

The Abraxis chief executive officer and chairman, Patrick Soon-Shiong MD, commented: “These agreements represent an important step in executing our strategic plan to build Abraxis Bioscience into a global, fully integrated biopharmaceutical company and increases the opportunity for Abraxane to reach its full potential.”

Abraxane is a form of paclitaxel bonded to albumen, which is a less toxic method of administering the drug in comparison to the solvent form. It is used to treat metastatic disease where conventional chemotherapy combinations have failed.

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