AstraZeneca sells anesthetic meds to Aspen
AstraZeneca (LSE: AZN) has entered into a commercialization agreement with Aspen Global Incorporated (AGI), part of the South Africa’s Aspen Group (APN: JSE), for rights to its global anesthetics portfolio outside the USA.
The agreement, which could earn the Anglo-Swedish pharma major as much as $770 million, covers seven established medicines - Diprivan (general anesthesia), EMLA (topical anesthetic) and five local anesthetics (Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest).
AstraZeneca’s portfolio of anesthetics is available in over a hundred countries worldwide, including key markets such as China, Japan, Australia and Brazil. The portfolio continues to generate stable revenue, with global product sales in 2015 of $592 million. The US rights to the products were divested to Abraxis, now part of Fresenius Kabi, in 2006.
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