AstraZeneca (LON:AZN) today announced that it has agreed to sell the commercial rights to Arimidex and Casodex in a number of European, African and other countries1 to Juvisé Pharmaceuticals.
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.”
Financial considerations
As there were no closing conditions to the divestment, the agreement became effective upon signing. Juvisé Pharmaceuticals has made an upfront payment of $181m to AstraZeneca and may also make future sales-contingent payments of up to $17m. Income arising from the upfront payment will be reported in AstraZeneca’s financial statements in the fourth quarter of 2019. Income from the upfront and any future payments will be reported within Other Operating Income & Expense. In 2018, Arimidex had sales of $37m in the countries covered by this agreement, while Casodex had sales of $24m. The divestment does not change the Company’s financial guidance for 2019.
About Arimidex
Arimidex (anastrozole) is an aromatase inhibitor, indicated primarily for the adjuvant treatment of postmenopausal women with hormone receptor-positive early breast cancer, the first-line treatment of postmenopausal women with hormone receptor-positive or hormone receptor-unknown locally advanced or metastatic breast cancer and the treatment of advanced breast cancer in postmenopausal women with disease progression, following tamoxifen therapy.
About Casodex
Casodex (bicalutamide) is an androgen-receptor inhibitor, indicated for use in combination therapy with a luteinising hormone-releasing hormone analogue for the treatment of Stage D2 metastatic carcinoma of the prostate.
References
1. For Arimidex and Casodex: Albania, Austria, Belgium, Bulgaria, Croatia, Cyprus, Estonia, Finland, France, France exports2, Germany, Greece, Ireland, Israel, Italy, Liechtenstein, Luxembourg, Monaco, the Netherlands, Norway, Romania, Serbia, Slovenia, Spain, Sweden, Switzerland, Algeria, Morocco, Lebanon, Tunisia, Turkey, and French-speaking Africa (Ivory Coast, Benin, Gabon, Niger, Mauritania, Burkina Faso, Mali, Chad, Burundi, Cameroon, Guinea, Senegal, Central African Republic, Togo, Djibouti, Democratic Republic of the Congo, Republic of the Congo and Madagascar). Additionally, for Arimidex: Czech Republic, Hungary, Lithuania, Malta, Poland and Portugal.
2. France exports are sales made in France, under the French entity of AstraZeneca, for export to French DOM-TOMs (Départements d’outre-mer, Territoires d’outre-mer): DOM-TOMs are either ‘overseas collectives’ (administrative divisions of France) or ‘overseas departments’ (officially part of France), and include: French Guyana, French Polynesia, Guadeloupe, Mayotte, Martinique, New Caledonia, La Reunion, Saint-Barthelemy, Saint-Martin, Saint-Pierre-et-Miquelon and Wallis-et-Futuna.
