AstraZeneca sells Synagis for 1.5 billion dollars

AstraZeneca’s shares rose over 1% today (London) as the group led by Pascal Soriot announced that it has sold to Swedish Orphan Biovitrum AB (SOBI) the rights to market its therapy for respiratory diseases Synagis in the US . The deal also includes sharing profits related to the investigational medicine MEDI8897, co-developed by AstraZeneca and Sanofi. As part of the agreement, SOBI will pay AstraZeneca $1bn in cash and $500m in shares. Additionally, AstraZeneca will receive royalties on sales up to a maximum $645m.

(Source: AstraZeneca)