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AstraZeneca generates $600 million from just two drug sales

pharmafile | July 3, 2017 | News story | Manufacturing and Production, Sales and Marketing |ย ย AstraZeneca, Seloken, Zomigย 

AstraZeneca is expected to generate almost $600 million from just two drug sales: Zoming, a migraine therapy, and Seloken, a beta-blocker.

AZ informed its investors that it had agreed to sell the global rights for Zomig outside of Japan to German firm Grunenthal for a total of around $300 million โ€“ $200 million on completion and $102 million in milestone payments. Seloken has been sold to Italyโ€™s Recordati for $290 million, which now owns the European rights to the drug. The deal was completed in May, and further royalty payments are expected to follow.

The massive sum generated stems from the companyโ€™s current business model which aims to supercharge its development pipeline to field blockbuster treatments in cancer and beyond through the sale of its non-core assets. While the plan has obvious reaped big rewards, the company still faces the shaky prospect of its Mystic trial, an anticipated Phase 3 study investigating a combination immunotherapy treatmentโ€™s effect on lung cancer.

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The deals make a significant impact on AZโ€™s fiscal results for the year so far; the company is due to release its full half-year results on 27 July.

AZ was recently embroiled in a dispute with GSK over the latterโ€™s appointment of Luke Miels, a former AZ employee, as President of Global Pharmaceuticals. Following the threat of a lawsuit from AZ over an alleged breach of contract by Miels, the issue has since been resolved.

Matt Fellows

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