A Closer Look at AstraZeneca Following the Sale of its Molecule Antibiotics Business to Pfizer

NEW YORK, NY / ACCESSWIRE / August 25, 2016 / AstraZeneca PLC is a biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines, primarily for the treatment of diseases in various therapy areas, including respiratory, inflammation, autoimmune disease (RIA), cardiovascular and metabolic disease (CVMD) and oncology, as well as in infection, neuroscience and gastrointestinal areas. Register with us now for your free membership and gain access to our Healthcare reports at: www.rdinvesting.com/subscribe-today/.

AstraZeneca plc (NYSE: AZN) shares declined 0.98 percent to close at $33.50 a share Wednesday. The stock traded between $33.42 and $34.51 on volume of 5.4 million shares traded. The stock appears to be facing some resistance at $33.66 and $34.14 with some support at $31.99 and $31.07. Shares of AstraZeneca have fallen approximately 1.3 percent year-to-date, but have rallied roughly 7.6 percent in the past month.

On Wednesday, the company announced an agreement to sell its molecule antibiotics business to Pfizer in a deal that that is valued to exceed $1.5 billion, when rights, royalties and other payments are included. Under the agreement, AstraZeneca sell the commercialization and development rights to its late-stage small molecule antibiotics business in most markets globally outside the United States. The agreement with Pfizer is expected to close in the fourth quarter of 2016, subject to customary closing conditions.

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Drug Portfolio

The portfolio of drugs in the deal includes:

Merrem/Meronem – a carbapenem anti-bacterial used for the treatment of serious infections in hospitalised patients.

Zinforo – launched in October 2012, is an intravenous cephalosporin antibiotic intended for use as a monotherapy in the treatment of adult patients with complicated skin and soft tissue infections (cSSTI) or community-acquired pneumonia (CAP).

Zavicefta – a combination antibiotic that has been developed to treat serious Gram-negative bacterial infections.

Executive Comments

Luke Miels, Executive Vice President for Europe and Head of the Antibiotics Business Unit at AstraZeneca, said: “This agreement reinforces our strategic focus to invest in our three main therapy areas where we can make the greatest difference to patients’ lives. We’re pleased that our strong science in antibiotics will continue to serve a critical public health need through Pfizer’s dedicated focus on infectious diseases, ensuring these important medicines reach greater numbers of patients around the world.”

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