AstraZeneca enters agreement with TerSera Therapeutics for Zoladex in the US and Canada

AstraZeneca to receive upfront payment and sustainable and ongoing sales-based income

Agreement expands the commercial potential of Zoladex in US and Canada

AstraZeneca today announced that it has entered into an agreement with TerSera Therapeutics LLC (TerSera) for the commercial rights to Zoladex (goserelin acetate implant) in the US and Canada. Zoladex is an injectable luteinising hormone-releasing hormone agonist, used to treat prostate cancer, breast cancer and certain benign gynaecological disorders. It was first approved in the US and Canada in 1989.

TerSera will pay AstraZeneca $250 million upon completion. AstraZeneca will also receive sales-related income through milestones totalling up to $70 million, as well as recurring quarterly sales-based payments at mid-teen percent of Product Sales. AstraZeneca will also manufacture and supply Zoladex to TerSera, providing a further source of ongoing income from Zoladex in the US and Canada.

Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca said: “This agreement allows us to retain a significant share of the value of Zoladex in the US and Canada, while concentrating our resources on our innovative New Oncology medicines. It also ensures patients have continued access to Zoladex, with TerSera’s dedicated focus helping to expand the potential of this important medicine.”

Ed Fiorentino, Chairman and CEO of TerSera Therapeutics, said: “We are very pleased to be partnering with AstraZeneca, and investing in the future growth of Zoladex, which continues to be a mainstay of treatment for its indicated uses.”

Financial considerations                                                                       

In 2016, Product Sales for Zoladex were $69 million in the US and Canada, and $816 million globally. AstraZeneca will continue to commercialise Zoladex in all markets outside the US and Canada. The transaction is expected to complete in the first quarter of 2017, subject to customary closing conditions. AstraZeneca will maintain a significant ongoing interest in Zoladex in the US and Canada through the sustainable and ongoing income from the upfront, milestone, quarterly sales-based and supply payments received from TerSera. The $250 million upfront, $70 million milestone payments and double-digit percentage quarterly sales-based payments received from TerSera will be reported as Externalisation Revenue in the Company’s financial statements.

The agreement does not include the transfer of any AstraZeneca employees or facilities and does not impact AstraZeneca’s financial guidance for 2017.

 

– ENDS –

NOTES TO EDITORS

About TerSera Therapeutics LLC

TerSera Therapeutics LLC acquires, develops and markets specialty pharmaceutical products with a focus on select therapeutic areas. Its mission is to provide products which truly make a difference for patients. For more information about TerSera Therapeutics, please visit www.tersera.com

 

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.

 

Media Enquiries

 

 

 

 

 

Esra Erkal-Paler

UK/Global

+44 203 749 5638

Vanessa Rhodes

 

UK/Global

 

+44 203 749 5736

 

Karen Birmingham

 

UK/Global

 

+44 203 749 5634

 

Rob Skelding

 

UK/Global

 

+44 203 749 5821

 

Jacob Lund

 

Sweden

 

+46 8 553 260 20

 

Michele Meixell

 

US

 

+1 302 885 2677

 

 

 

 

Investor Relations

 

 

Thomas Kudsk Larsen

 

 

 

+44 203 749 5712

 

Craig Marks

 

Finance, Fixed Income, M&A

 

+44 7881 615 764

 

Henry Wheeler

 

Oncology

 

+44 203 749 5797

 

Mitchell Chan

 

Oncology

 

+1 240 477 3771

 

Lindsey Trickett

 

Cardiovascular & Metabolic Diseases

 

+1 240 543 7970

 

Nick Stone

 

Respiratory

 

+44 203 749 5716

 

Christer Gruvris

Autoimmunity, Neuroscience & Infection

+44 203 749 5711

US toll free

 

+1 866 381 7277

tags

  • Corporate
  • Cancer