AstraZeneca, a global, science-led biopharmaceutical company, has completed the commercialisation agreement with Aspen Global Incorporated (AGI), part of the Aspen Group, for rights to its global anaesthetics portfolio outside the US. The agreement covers seven established medicines - Diprivan (general anaesthesia), EMLA (topical anaesthetic) and five local anaesthetics (Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest).
As AstraZeneca will retain a significant ongoing interest in the portfolio, the upfront payment (to be recognised in the third quarter of 2016), along with all future milestone and royalty payments, will be reported as Externalisation Revenue in the company’s financial statements.
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 therapy areas – respiratory and autoimmunity, cardiovascular and metabolic diseases, and oncology.