AstraZeneca sells lung med to Sobi for $1.5 billlion

Nov 13, 2018

AstraZeneca has sold the rights in the U.S. for infant lung infection treatment Synagis to Swedish Orphan Biovitrum for $1.5 billion.

The deal gives Sobi a much larger U.S. footprint and expand its business in immunology. Nearly 130 AstraZeneca staff will transfer to Sobi, which will begin marketing of Synagis in the U.S.

Just last week AstraZeneca sold three drugs for $350 million. Just before that it divested Nexium rights for $815 million.

AstraZeneca will receive $1 billion in cash and $500 million in Sobi shares. Including deferred and contingency payments, the deal's total value may reach $2.3 billion.

Read the Reuters report

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