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    • AstraZeneca sells...

    AstraZeneca sells European rights for schizophrenia drug Seroquel, Seroquel XR for USD 178 million

    Farhat NasimWritten by Farhat Nasim Published On 2019-10-30T17:25:33+05:30  |  Updated On 17 Aug 2021 12:05 PM IST

    The treatment, Seroquel, and another version, Seroquel XR, have lost patent protection in Europe and Russia, AstraZeneca said. The drug variants are primarily used to treat schizophrenia and bipolar disorder.


    New Delhi: AstraZeneca Plc said on Wednesday it plans to sell the European and Russian rights for a schizophrenia drug to German firm Cheplapharm Arzneimittel for an upfront payment of $178 million, as the British drugmaker looks to offload older drugs.


    The treatment, Seroquel, and another version, Seroquel XR, have lost patent protection in Europe and Russia, AstraZeneca said. The drug variants are primarily used to treat schizophrenia and bipolar disorder.


    AstraZeneca halted years of falling sales in 2018, marking a turn around after crumbling sales due to patent losses on older drugs, and has been focusing on newer medicines including those for cancer, diabetes and heart conditions.


    Also Read: AstraZeneca new drugs including Tagrisso, Lynparza boost Q3 product sales


    "It (the Cheplapharm agreement) forms part of our strategy of reducing the portfolio of mature medicines to enable reinvestment in our main therapy areas," Ruud Dobber, executive vice president of the company's biopharmaceuticals unit said.


    Pre-tax profits from Seroquel and Seroquel XR in Europe and Russia amounted to $86 million last year, and AstraZeneca will continue to produce and supply them to Cheplapharm during a transition period.


    The London-listed drugmaker and Cheplapharm earlier this month also struck a deal for the global commercial rights of acid reflux medicine Losec.


    Also Read: AstraZeneca India bags DCGI marketing nod for QTERN-once-daily anti-diabetes drug

    AstraZenecabipolar disordercancerCheplapharm Arzneimitteldiabetesdrug patentEuropean rightHeart failure drugschizophreniaschizophrenia drugSeroquelSeroquel XR®
    Source : Reuters

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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