Blueprint
FORM 6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of (February
2017)
Commission
File Number: 001-11960
AstraZeneca PLC
1
Francis Crick Avenue
Cambridge
Biomedical Campus
Cambridge
CB2 0AA
United
Kingdom
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This
announcement contains inside information
20
February 2017 07:00GMT
ASTRAZENECA
ENTERS AGREEMENT WITH TERSERA THERAPEUTICS FOR ZOLADEX IN THE US
AND CANADA
AstraZeneca
to receive upfront payment and sustainable and ongoing
sales-based
income
Agreement
expands the commercial potential of Zoladex in US and
Canada
AstraZeneca today
announced that it has entered into an agreement with TerSera
Therapeutics LLC (TerSera) for the commercial rights to Zoladex
(goserelin acetate implant) in the US and Canada. Zoladex is an
injectable luteinising hormone-releasing hormone agonist, used to
treat prostate cancer, breast cancer and certain benign
gynaecological disorders. It was first approved in the US and
Canada in 1989.
TerSera
will pay AstraZeneca $250 million upon completion. AstraZeneca will
also receive sales-related income through milestones totalling up
to $70 million, as well as recurring quarterly sales-based payments
at mid-teen percent of Product Sales. AstraZeneca will also
manufacture and supply Zoladex to TerSera, providing a further
source of ongoing income from Zoladex in the US and
Canada.
Mark
Mallon, Executive Vice President, Global Product & Portfolio
Strategy at AstraZeneca said: "This agreement allows us to retain a
significant share of the value of Zoladex in the US and Canada,
while concentrating our resources on our innovative New Oncology
medicines. It also ensures patients have continued access to
Zoladex, with TerSera's dedicated focus helping to expand the
potential of this important medicine."
Ed
Fiorentino, Chairman and CEO of TerSera Therapeutics, said: "We are
very pleased to be partnering with AstraZeneca, and investing in
the future growth of Zoladex, which continues to be a mainstay of
treatment for its indicated uses."
Financial
considerations
In
2016, Product Sales for Zoladex were $69 million in the US and
Canada, and $816 million globally. AstraZeneca will continue to
commercialise Zoladex in all markets outside the US and Canada. The
transaction is expected to complete in the first quarter of 2017,
subject to customary closing conditions. AstraZeneca will maintain
a significant ongoing interest in Zoladex in the US and Canada
through the sustainable and ongoing income from the upfront,
milestone, quarterly sales-based and supply payments received from
TerSera. The $250 million upfront, $70 million milestone payments
and double-digit percentage quarterly sales-based payments received
from TerSera will be reported as Externalisation Revenue in the
Company's financial statements.
The
agreement does not include the transfer of any AstraZeneca
employees or facilities and does not impact AstraZeneca's financial
guidance for 2017.
About
TerSera Therapeutics LLC
TerSera
Therapeutics LLC acquires, develops and markets specialty
pharmaceutical products with a focus on select therapeutic areas.
Its mission is to provide products which truly make a difference
for patients. For more information about TerSera Therapeutics,
please visit www.tersera.com.
About
AstraZeneca
AstraZeneca is a
global, science-led biopharmaceutical company that focuses on the
discovery, development and commercialisation of prescription
medicines, primarily for the treatment of diseases in three main
therapy areas - Oncology, Cardiovascular & Metabolic Diseases
and Respiratory. The Company also is selectively active in the
areas of autoimmunity, neuroscience and infection. AstraZeneca
operates in over 100 countries and its innovative medicines are
used by millions of patients worldwide. For more information,
please visit www.astrazeneca.com
and follow us on Twitter @AstraZeneca.
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Adrian
Kemp
Company
Secretary, AstraZeneca PLC
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
AstraZeneca
PLC
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Date:
20 February 2017
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By: /s/
Adrian Kemp
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Name:
Adrian Kemp
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Title:
Company Secretary
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