AstraZeneca in $770m deal with Aspen Group

AstraZeneca said it has entered a $770m commercialisation deal with Aspen Global Incorporated (AGI), part of the the US Aspen Group, for rights to its global anaesthetics portfolio outside the US.

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Under the terms of the agreement, AGI will acquire the commercialisation rights, outside the US, to AstraZeneca's portfolio of anaesthetic medicines for $520m. AGI will also pay AstraZeneca up to $250m in a product sales-related payment, as well as double-digit percentage trademark royalties on Product Sales.

The agreement covers seven established medicines - Diprivan(general anaesthesia), EMLA (topical anaesthetic) and five local anaesthetics Xylocaine, Xylocard, Xyloproct, Marcaine, Naropin, Carbocaine and Citanest).

AstraZeneca will manufacture and supply the products on a cost plus basis to AGI for an initial period of 10 years. Upon completion, Aspen will assume responsibility for all activities relating to the sale of the portfolio in all relevant markets.