has divested the commercial rights to Arimidex (anastrozole) and Casodex (bicalutamide) to French pharmaceutical company Juvis茅 Pharmaceuticals for an upfront payment of $181m.
The divestiture includes rights to the drugs in Europe, Africa and multiple other markets with lost patent protection.
Arimidex is an aromatase inhibitor, while Casodex is designed to inhibit androgen receptor.
Arimidex has approval as an adjuvant treatment for hormone receptor-positive early breast cancer in postmenopausal women.
The drug is also indicated as a first-line treatment for hormone receptor-positive or hormone receptor-unknown locally advanced or metastatic breast cancer, as well as progressing breast cancer after tamoxifen therapy, in postmenopausal women.
Casodex can be used as combination therapy with a luteinising hormone-releasing hormone analogue for stage D2 metastatic prostate carcinoma.
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By GlobalDataLast year, the breast cancer drug recorded $37m in sales in the countries covered under this agreement, while the prostate cancer drug generated $24m. AstraZeneca sold the rights to these drugs in the US in 2017.
AstraZeneca Oncology business unit executive vice-president Dave Fredrickson said: 鈥淎rimidex and Casodex are important established medicines and we are pleased that Juvis茅 Pharmaceuticals will now take on the work of making sure patients continue to have access to them.
鈥淭oday鈥檚 agreement is part of a broader strategy of reducing our portfolio of mature medicines to reallocate resources towards developing our pipeline of new medicines.鈥�
Under the agreement, Juvis茅 is eligible for up to $17m in future sales-based payments. The deal marks Juvis茅鈥檚 foray into the oncology market and supports its strategy to expand in this therapeutic area.
Juvis茅 Pharmaceuticals founder and president Fr茅d茅ric Mascha said: 鈥淲e are very pleased to have successfully closed our first deal with AstraZeneca and to enter a therapeutic area with high medical needs such as oncology with Arimidex and Casodex, which are two widely recognised cancer treatments essential for both patients and physicians.鈥�
