AstraZeneca: Aspen Buys Remaining Rights to Anesthetic Portfolio

By Ian Walker Features Dow Jones Newswires

Pharmaceutical company AstraZeneca PLC (AZN.LN) said Thursday that Aspen Group's (APZ.AU) unit will buy the remaining rights to its anesthetic medicines for up to $766 million.

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Following the initial deal entered into in June 2016--which saw Aspen Global Incorporated gain exclusive commercialization rights to the medicines in markets outside the U.S.--Aspen Global will now buy the remaining rights to Diprivan, EMLA, Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest.

It is paying an initial $555 million for the remaining rights to the intellectual property and manufacturing knowledge related to the anesthetic medicines, plus a further $211 million based on performance.

AstraZeneca said it will continue to manufacture and supply the medicines to Aspen Global during a transition period of up to five years.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

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September 14, 2017 02:41 ET (06:41 GMT)