31 March 2017 07:00 BST
ASTRAZENECA COMPLETES AGREEMENT WITH TERSERA THERAPEUTICS FOR COMMERCIAL RIGHTS TO ZOLADEX IN THE US AND CANADA
AstraZeneca today announced that it has completed the agreement with TerSera Therapeutics LLC for the commercial rights to Zoladex (goserelin acetate implant) in the US and Canada. Zoladex is an injectable luteinising hormone-releasing medicine, used to treat prostate cancer, breast cancer and certain benign gynaecological disorders. It was first approved in the US and Canada in 1989.
Under the terms of the agreement, AstraZeneca has received a payment of $250 million from TerSera for the commercial rights to the medicine in the US and Canada. As AstraZeneca will maintain a significant ongoing interest in Zoladex in the US and Canada, the payment will be reported as Externalisation Revenue in the Company's financial statements, and will be booked in the first quarter of 2017.
AstraZeneca will receive future sales-related income through milestones totalling up to $70 million, as well as recurring quarterly sales-based payments at mid-teen percent of sales. AstraZeneca will also manufacture and supply Zoladex to TerSera, providing a further source of ongoing income from Zoladex in the US and Canada.
About AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of Autoimmunity, Neuroscience and Infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.
Media Enquiries |
|
|
Esra Erkal-Paler |
UK/Global |
+44 203 749 5638 |
Vanessa Rhodes |
UK/Global |
+44 203 749 5736 |
Karen Birmingham |
UK/Global |
+44 203 749 5634 |
Rob Skelding |
UK/Global |
+44 203 749 5821 |
Jacob Lund |
Sweden |
+46 8 553 260 20 |
Michele Meixell |
US |
+1 302 885 2677 |
Investor Relations |
|
|
Thomas Kudsk Larsen |
|
+44 203 749 5712 |
Craig Marks |
Finance, Fixed Income, M&A |
+44 7881 615 764 |
Henry Wheeler |
Oncology |
+44 203 749 5797 |
Mitchell Chan |
Oncology |
+1 240 477 3771 |
Lindsey Trickett |
Cardiovascular & Metabolic Diseases |
+1 240 543 7970 |
Nick Stone |
Respiratory |
+44 203 749 5716 |
Christer Gruvris |
Autoimmunity, Neuroscience & Infection |
+44 203 749 5711 |
US toll free |
|
+1 866 381 7277 |
Adrian Kemp
Company Secretary, AstraZeneca PLC
