Pfizer announces acquisition of small-molecule business from AZ for $550 million
Pfizer has announced that they have acquired AstraZeneca’s small molecule anti-infectives business for an upfront fee of $550 million. Pfizer will also pay an additional $175 million in January 2019 and a potential further $250 million in milestone payments.
The deal sees Pfizer acquire the approved antibiotics, Merrem, ZInforo and Zavicefta. It will also see them acquire two further experimental antibiotics, ATM-AVI and CXL, which are still going through clinical development.
“The addition of AstraZeneca’s complementary small molecule anti-infectives portfolio enhances our global expertise and offerings in an increasingly important area of therapeutics that addresses the public health needs of patients and healthcare professionals. Additionally this acquisition is an example of how we are focusing our investments to drive sustainable revenue growth potential for our Essential Health business,” said John Young, group president of Pfizer Essential Health.
“As AstraZeneca will not maintain a significant future interest in the late-stage small molecule antibiotics business, all payments will be reported as other operating income in the company's financial statements,” AstraZeneca released in a statement.
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