Swedish Orphan Biovitrum (Sobi) has entered an agreement to purchase the US rights for Synagis from AstraZeneca for $1.5bn.
Sobi will pay $1bn in cash and $500m in ordinary shares to AstraZeneca under the agreement.
Sobi will also be responsible for commercialisation of the drug in the US.
As part of the transaction, AstraZeneca will gain an 8% stake in Sobi and will receive $470m in sales-based payments from 2026.
In addition, the deal provides Sobi with the rights to participate in AstraZeneca’s share of future profits or losses associated with the development of the potential new medicine MEDI8897, which will be developed jointly with Sanofi Pasteur in the US.
Sobi will pay $175m after submitting a biologics license application (BLA) for MEDI8897 to the US Food and Drug Administration (FDA), and potential net payments of approximately $110m upon attaining certain development milestones. Sobi will also pay up to $60m in non-contingent payments for MEDI8897 between 2019 and 2021.
Based in Sweden, Sobi is a biopharmaceutical company focused on producing medicines for rare diseases, while AstraZeneca is a biopharmaceutical company based in the UK.
Vectura Group and Hikma Pharmaceuticals have formed a joint venture (JV) to develop and commercialise generic formulations of GSK’s Ellipta inhaler products.
Vectura’s Open-Inhale-Close dry powder inhaler will be used to develop AB-rated substitutable generics of up to five GSK drugs. The company will be responsible for funding initial development activities, while Hikma will be responsible for carrying out clinical development, regulatory procedures and commercialisation.
Hikma will pay $15m to Vectura and an additional $5m in milestone-based payments once the first product is transferred to its facility for manufacturing. Vectura will also be eligible to receive milestone-based payments of up to $75m at various stages of development.
Vectura will pay up to $70m towards development activities carried out by Hikma.
Both the companies involved in the transaction are pharmaceutical companies based in the UK.