AstraZeneca sells North American rights to Seroquel
UK drugmaker AstraZeneca (LSE: AZN) has agreed to sell the US and Canadian rights to psychiatric meds Seroquel (quetiapine fumarate) and Seroquel XR (quetiapine fumarate) to Germany’s Cheplapharm.
The Greifswald-based firm will pay $35 million upfront, and sales-contingent payments of up to $6 million, for the off-patent medicines.
AstraZeneca has already divested the rights to the products in the UK, Japan and other major international markets. A separate agreement with Cheplapharm will see it pick up rights in Europe, subject to closing conditions.
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