AstraZeneca sells rights to Zoladex (US&Canada) for $320bn

AstraZeneca has sold to TerSera Therapeutics the commercial rights to Zoladex in the US and Canada for $320m, which proves that the UK-based group is focused on developing new drugs rather than products now mature. Under the agreement, TerSera will perform an upfront payment of $250m and an additional $70m upon successful completion of specific commercial milestones. Additionally, the agreement provides for quarterly royalties of approximately 5% on revenues. Zoladex is a treatment for prostate cancer, breast cancer and other gynecological disorders. It was first approved in the US and Canada in 1989. (Source AstraZeneca)