AstraZeneca Completes Aspen Agreement

RNS Number : 6199I

AstraZeneca PLC

01 September 2016

 

01 September 2016 07:00 BST

ASTRAZENECA COMPLETES COMMERCIALISATION AGREEMENT WITH ASPEN FOR ANAESTHETICS PORTFOLIO

AstraZeneca today announced that it has completed* the commercialisation agreement with Aspen Global Incorporated (AGI), part of the Aspen Group, for rights to its global anaesthetics portfolio outside the US. The agreement covers seven established medicines - Diprivan (general anaesthesia), EMLA (topical anaesthetic) and five local anaesthetics (Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest). As AstraZeneca will retain a significant ongoing interest in the portfolio, the upfront payment (to be recognised in the third quarter of 2016), along with all future milestone and royalty payments, will be reported as Externalisation Revenue in the Company's financial statements.

* With the exception of Ukraine and Zimbabwe, which are subject to separate closing

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Respiratory and Autoimmunity, Cardiovascular and Metabolic Diseases, and Oncology. The Company is also active in inflammation, infection and neuroscience through numerous collaborations. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com    

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