08.25.16
Pfizer has entered into an agreement with AstraZeneca to acquire the development and commercialization rights to its late-stage small molecule anti-infectives business, primarily outside the U.S. The agreement includes development and commercialization rights to the newly approved EU drug Zavicefta, marketed products Merrem/Meronem and Zinforo, and the clinical development assets aztreonam-avibactam (ATM-AVI) and CXL. Zavicefta specifically addresses multi-drug resistant Gram-negative infections, including those resistant to Carbapenem antibiotics, which represents significant unmet medical needs in bacterial infections.
Pfizer will make an upfront payment of $550 million and a deferred payment of $175 million in January 2019. AstraZeneca is eligible to receive as much as $250 million in milestones, $600 million in sales-related payments, as well as royalties on sales of Zavicefta and ATM-AVI in certain markets.
“As we continue to reshape our Essential Health portfolio, we are focusing on areas that further address global public health needs and that complement our core capabilities and experience in therapeutic areas, including anti-infectives. We are committed to looking for ways to enhance our portfolio around the world where we offer patients and healthcare professionals access to more than 60 anti-infective and anti-fungal medicines. The addition of AstraZeneca’s complementary small molecule anti-infectives portfolio will help expand patient access to these important medicines and enhance our global expertise and offerings in this increasingly important area of Therapeutics , in addition to providing the opportunity for near-term revenue growth,” said John Young, group president, Pfizer Essential Health.
Luke Miels, executive vice president for Europe and head of the Antibiotics Business Unit at AstraZeneca, said, “This agreement reinforces our strategic focus to invest in our three main therapy areas where we can make the greatest difference to patients’ lives. We’re pleased that our strong science in antibiotics will continue to serve a critical public health need through Pfizer’s dedicated focus on Infectious Diseases , ensuring these important medicines reach greater numbers of patients around the world.”
Pfizer will make an upfront payment of $550 million and a deferred payment of $175 million in January 2019. AstraZeneca is eligible to receive as much as $250 million in milestones, $600 million in sales-related payments, as well as royalties on sales of Zavicefta and ATM-AVI in certain markets.
“As we continue to reshape our Essential Health portfolio, we are focusing on areas that further address global public health needs and that complement our core capabilities and experience in therapeutic areas, including anti-infectives. We are committed to looking for ways to enhance our portfolio around the world where we offer patients and healthcare professionals access to more than 60 anti-infective and anti-fungal medicines. The addition of AstraZeneca’s complementary small molecule anti-infectives portfolio will help expand patient access to these important medicines and enhance our global expertise and offerings in this increasingly important area of Therapeutics , in addition to providing the opportunity for near-term revenue growth,” said John Young, group president, Pfizer Essential Health.
Luke Miels, executive vice president for Europe and head of the Antibiotics Business Unit at AstraZeneca, said, “This agreement reinforces our strategic focus to invest in our three main therapy areas where we can make the greatest difference to patients’ lives. We’re pleased that our strong science in antibiotics will continue to serve a critical public health need through Pfizer’s dedicated focus on Infectious Diseases , ensuring these important medicines reach greater numbers of patients around the world.”
