AstraZeneca Divests Rights of Seroquel and Seroquel XR to Cheplapharm in Europe and Russia

AstraZeneca Divests Rights of Seroquel and Seroquel XR to Cheplapharm in Europe and Russia

Shots:

  • AstraZeneca to receive $178M up front and up to $61M as sales-contingent payments while it continues to manufacture and supply Seroquel and Seroquel XR to Cheplapharm during a transition period. The transaction is expected to be closed in Q4’19
  • The divestiture will allow AstraZeneca to focus on its main therapeutic areas by reducing its portfolio of mature medicines
  • Seroquel & Seroquel XR are anti-psychotic therapies with antidepressant properties indicated to treat schizophrenia and bipolar disorder and has generated $47M & $61M revenue in 2018 in EU & Russia

Click here to­ read full press release/ article | Ref: AstraZeneca | Image: The Business Journal