AstraZeneca has sold the marketing rights to a portfolio of anesthetics to South Africa's Aspen Pharmacare for up to $770 million.
The deal allows Aspen to market seven established drugs outside the United States. AstraZeneca sold the U.S. rights to the same drugs 10 years ago to Abraxis.
According to the terms of the deal, Aspen will pay AstraZeneca $520 million upfront and up to $250 million in sales-related payments, as well as double-digit percentage trademark royalties. AstraZeneca will continue to manufacture and supply the products on a cost plus basis.
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