Pfizer to buy AstraZeneca's antibiotics portfolio: 6 things to know

Pfizer, which on Monday acquired cancer drugmaker Medivation for $14 billion, has added to its portfolio yet again. The New York-based drugmaker will buy AstraZeneca's small molecule antibiotics business for a deal valued at up to $1.5 billion, reports Reuters.

Here are six things to know about the deal.

  1. Pfizer will pay $550 million when the deal closes, along with another unconditional payment of $175 million in January 2019.

  2. Britain-based AstraZeneca can also earn up to $250 million in milestone payments and up to $600 million in sales-related payments.

  3. Pfizer will gain the rights to three approved antibiotics — Merrem, Zinforo and Zavicefta — and two in clinical development called ATM-AVI and CXL.
  1. AstraZeneca is entitled to double-digit royalties for future sales of Zavicefta and ATM-AVI in specific markets.

  2. Merrem, used to treat serious infections in hospitalized patients, and Zinforo, intended to treat skin and soft tissue infections as well as pneumonia, are well-established drugs that together produced sales of $250 million last year.

  3. Pfizer said the new drugs would add to its portfolio of more than 60 anti-infective and anti-fungal treatments.

More articles on the drug market:

FDA: Drug companies abuse citizen petitions to block generic competition
Sen. Bernie Sanders urges Pfizer to lower cost of Xtandi following Medivation acquisition
FDA fasttracks Eli Lilly, AstraZeneca Alzheimer's drug

 

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