AstraZeneca To Divest Rare Disease Drug to Sanofi

AstraZeneca has agreed to divest to Genzyme, part of Sanofi, Caprelsa®(vandetanib), a rare disease medicine for $300 million. Under the agreement, Genzyme will pay AstraZeneca up to $300 million, including an upfront payment of $165 million to acquire the global rights to sell and develop Caprelsa, and further development and sales milestone payments of up to $135 million. The transaction does not include the transfer of any AstraZeneca employees or facilities.

Caprelsa was granted orphan drug designation by the US Food and Drug Administration in 2005 and is currently available in 28 countries for treating medullary thyroid carcinoma, with global product sales of $48 million in 2014.

The divestment transaction is subject to closing conditions, including the receipt of antitrust clearance from the US Federal Trade Commission. The transaction is expected to complete in the second half of 2015.

Source: AstraZeneca

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