AstraZeneca Sells Remaining Anesthetics Portfolio to Aspen in $766M Deal

Aspen Global Incorporated (AGI) is set to purchase the remaining rights to AstraZeneca’s portfolio of anesthetics for approximately $766 million.

In June 2016, AstraZeneca sold exclusive commercialization rights to its global anesthetics portfolio outside of the U.S. in a $770-million deal to Aspen.

With this deal, AGI has acquired the rights to:

Diprivan
EMLA
Xylocaine/Xylocard/Xyloproct
Marcaine
Naropin
Carbocaine
Citanest

According to AstraZeneca’s press release:

Under the terms of the new agreement, AGI will now acquire the remaining rights to the intellectual property and manufacturing know-how related to the anesthetic medicines for an upfront consideration of $555 million. Additionally, AGI will pay AstraZeneca up to $211 million in performance-related milestones based on sales and gross margin during the period from 1 September 2017 to 30 November 2019.

“AstraZeneca, AGI, and patients have all benefitted from the successful commercial agreement we established last year,” said Mark Mallon, Executive Vice President, Global Product and Portfolio Strategy, AstraZeneca. “As our relationship has evolved, AGI has shown that it is in a strong position to maximize the value and reach of the anesthetic medicines through its extensive commercial network. Disposing the remaining rights to the medicines allows both companies to benefit from greater efficiencies as AstraZeneca continues to focus our resources on our three main therapy areas.”

AstraZeneca, under the new agreement, will no longer receive royalties from AGI and will continue to manufacture and supply anesthetics drugs to AGI for up to five years during the transition.

(Source: AstraZeneca)

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