AstraZeneca agreed to sell the commercial rights to cancer drugs ArimidexandCasodex(bicalutamide) in a number of European, African and other countriesto Juvisé Pharmaceuticals, a French company.
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 US in 2017.
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.”
Juvisé Pharmaceuticals has made an upfront payment of $181 million to AstraZeneca and may also make future sales-contingent payments of up to $17 million. In 2018, Arimidex had sales of$37 million in the countries covered by this agreement, while Casodex had sales of $24 million.
AstraZeneca, based in the United Kingdom, has operations in Delaware that employ 1,500.