AstraZeneca has signed an agreement with Genzyme to sell its rare disease medicine Caprelsa (vandetanib) for around $300m.
As part of the deal, AstraZeneca will receive an upfront payment of $165m from Genzyme for global rights to sell and develop Caprelsa, in addition to further development and sales milestone payments of up to $135m.
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AstraZeneca global product and portfolio strategy and corporate affairs executive vice-president Luke Miels said: "Caprelsa is a rare disease therapy and the divestment to Genzyme, an expert leader in endocrinology, demonstrates our commitment to ensure patients continue to have access to this medicine while we sharpen our focus on key disease areas."
In 2005, Caprelsa received orphan drug status from the US Food and Drug Administration (FDA) and is currently marketed in 28 countries to treat aggressive and symptomatic medullary thyroid carcinoma.
According to AstraZeneca, the deal will not include the transfer of any of the firm’s employees or facilities.
Genzyme president and CEO Dr David Meeker said: "The addition of Caprelsa represents a strong strategic fit for our rare endocrinology portfolio and underscores Genzyme’s commitment to addressing unmet needs in the thyroid community."
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By GlobalDataSubject to closing conditions, including the receipt of antitrust clearance from the US Federal Trade Commission, the deal is expected to complete in the second half of this year.
In this month, Zeria Group’s subsidiary Tillotts Pharma completed the acquisition of AstraZeneca’s Entocort (budesonide) global rights outside the US for around $215m.
Image: The entrance to the Genzyme building at 500 Kendall Square in Cambridge, Massachusetts, US. Photo: courtesy of Tim Pierce.
