BRIEF—AstraZeneca divests Seroquel rights in Europe and Russia

Anglo-Swedish drugmaker AstraZeneca has agreed the sale and licence of the commercial rights to Seroquel (quetiapine fumarate immediate release) and Seroquel XR (quetiapine fumarate extended release) in Europe and Russia to Germany’s Cheplapharm Arzneimittel.

These products, used primarily to treat schizophrenia and bipolar disorder, have lost their compound patent protection in Europe and Russia.

Ruud Dobber, executive vice president, Biopharmaceuticals, said: “Seroquel is an important established medicine and this agreement with Cheplapharm will help ensure continued patient access. It forms part of our strategy of reducing the portfolio of mature medicines to enable reinvestment in our main therapy areas.”

AstraZeneca will continue to manufacture and supply Seroquel and Seroquel XR to Cheplapharm during a transition period.

Cheplapharm will make an upfront payment of $178 million to AstraZeneca and may also make future sales-contingent payments of up to $61 million.