AstraZeneca completes divestment of Caprelsa cancer drug

AstraZeneca has finalised the divestment of cancer drug Caprelsa to Genzyme.

The FTSE 100 company confirmed the news on Wednesday.

Genzyme paid AstraZeneca $165m to acquire the global rights to sell and develop the drug, and will make further milestone payments of up to $135m.

It said the divestment reinforces AstraZeneca's strategic focus on its three main therapy areas, and the transaction doesn’t impact the company’s financial guidance for the year.