Here are six things to know about the deal.
- Pfizer will pay $550 million when the deal closes, along with another unconditional payment of $175 million in January 2019.
- Britain-based AstraZeneca can also earn up to $250 million in milestone payments and up to $600 million in sales-related payments.
- Pfizer will gain the rights to three approved antibiotics — Merrem, Zinforo and Zavicefta — and two in clinical development called ATM-AVI and CXL.
- AstraZeneca is entitled to double-digit royalties for future sales of Zavicefta and ATM-AVI in specific markets.
- Merrem, used to treat serious infections in hospitalized patients, and Zinforo, intended to treat skin and soft tissue infections as well as pneumonia, are well-established drugs that together produced sales of $250 million last year.
- Pfizer said the new drugs would add to its portfolio of more than 60 anti-infective and anti-fungal treatments.
More articles on the drug market:
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FDA fasttracks Eli Lilly, AstraZeneca Alzheimer’s drug
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