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Sobi to acquire U.S. rights to AstraZeneca's Synagis and half interest in MEDI8897 for $1.5B

Published 11/13/2018, 08:34 AM
Updated 11/13/2018, 08:34 AM
© Reuters.  Sobi to acquire U.S. rights to AstraZeneca's Synagis and half interest in MEDI8897 for $1.5B
  • Swedish Orphan Biovitrum AB (OTCPK:BIOVF) (Sobi) has agreed to acquire the U.S. rights to AstraZeneca's (NYSE:AZN) RSV med Synagis (palivizumab) and 50% of the future U.S. earnings of candidate MEDI8897 for $1.0B in cash and and $500M in newly issued Sobi stock.
  • Sobi will also pay AZN $20M per year for three years for its share of MEDI8897's U.S. earnings.
  • AZN is eligible for up to $470M in Synagis sales-related milestones from 2026 onward. It is also eligible to receive $175M following the submission of a U.S. marketing application for MEDI8897 and up to $110M in milestones, payable from 2023 onward.
  • The transaction should close no later than Q1 2019.
  • AZN is up 1% premarket on light volume.
  • Now read: Sesen: Positive Unfolding Clinical Development Ahead


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