AstraZeneca sells cancer drug for up to $320 million

20 February 2017

UK-based AstraZeneca (LSE: AZN) has sold rights to its anticancer workhorse Zoladex (goserelin) for an immediate payment of $250 million, with a further $70 contingent on sales milestones.

Gaining the right to market the drug in the USA and Canada, privately-held American firm TerSera will also make recurring quarterly payments based on product sales, at a mid-teen percentage rate.

Zoladex, which was first approved in the USA and Canada in 1989, generated $69 million in sales in the region last year, and $816 million globally.

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