AstraZeneca divests more rights to Arimidex and Casodex

AstraZeneca (LSE: AZN) today announced that it has agreed to sell the commercial rights to Arimidex (anastrozole) and Casodex (bicalutamide) in a number of European, African and other countries to French company Juvisé Pharmaceuticals, with the news sending the Anglo-Swedish pharma major’s shares up 2.38% to £78.08 by close of trading.

The medicines, used primarily to treat breast and prostate cancers, have lost their compound patent protection in these countries. AstraZeneca already divested the rights to both Arimidex and Casodex in the USA in 2017.

With this acquisition, Juvisé Pharmaceuticals enters the oncology therapeutic area, in which the company wants to further expand and consolidates its fast-growing ambition.

Dave Fredrickson, Executive Vice President, Oncology Business Unit, said: “Arimidex and Casodex are important established medicines and we are pleased that Juvisé Pharmaceuticals will now take on the work of making sure patients continue to have access to them. Today’s agreement is part of a broader strategy of reducing our portfolio of mature medicines to reallocate resources towards developing our pipeline of new medicines.”