AstraZeneca today announced that it has entered into a definitive agreement with
Genzyme to divest Caprelsa® (vandetanib), a rare disease medicine.
Caprelsa was granted Orphan Drug Designation by the US FDA in 2005 and is
currently available in 28 countries for the treatment of aggressive and
symptomatic medullary thyroid carcinoma, with global product sales of $48
million in 2014.
Under the terms of the agreement, Genzyme will pay AstraZeneca up to $300
million, including an upfront payment of $165 million to acquire the global
rights to sell and develop Caprelsa, and further development and sales milestone
payments of up to $135 million. The transaction does not include the transfer of
any AstraZeneca employees or facilities. As an asset divestment, upfront receipt
and any subsequent payments will be reported in Other Operating Income in the
Company's financial statements.
Luke Miels, Executive Vice President, Global Product & Portfolio Strategy and
Corporate Affairs, AstraZeneca, said: "Caprelsa is a rare disease therapy and
the divestment to Genzyme, an expert leader in endocrinology, demonstrates our
commitment to ensure patients continue to have access to this medicine while we
sharpen our focus on key disease areas."
Genzyme's President and CEO, David Meeker, MD, said: "The addition of Caprelsa
represents a strong strategic fit for our rare endocrinology portfolio and
underscores Genzyme's commitment to addressing unmet needs in the thyroid
community. We look forward to bringing our rare disease expertise to appropriate
patients with advanced stage thyroid carcinoma."
The divestment transaction is subject to closing conditions, including the
receipt of antitrust clearance from the US Federal Trade Commission. The
transaction is expected to complete in the second half of 2015 and does not
impact AstraZeneca's financial guidance for 2015.
About Genzyme, a Sanofi Company
Genzyme has pioneered the development and delivery of transformative therapies
for patients affected by rare and debilitating diseases for over 30 years. We
accomplish our goals through world-class research and with the compassion and
commitment of our employees. With a focus on rare diseases and multiple
sclerosis, we are dedicated to making a positive impact on the lives of the
patients and families we serve. That goal guides and inspires us every day.
Genzyme's portfolio of transformative therapies, which are marketed in countries
around the world, represents groundbreaking and life-saving advances in
medicine. As a Sanofi company, Genzyme benefits from the reach and resources of
one of the world's largest pharmaceutical companies, with a shared commitment to
improving the lives of patients. Learn more at
Genzyme® is a registered trademark of Genzyme Corporation. All rights reserved.
Sanofi, a global healthcare leader, discovers, develops and distributes
therapeutic solutions focused on patients' needs. Sanofi has core strengths in
diabetes solutions, human vaccines, innovative drugs, consumer healthcare,
emerging markets, animal health and Genzyme. Sanofi is listed in Paris
(EURONEXT: SAN) and in New York (NYSE: SNY).
AstraZeneca is a global, innovation-driven biopharmaceutical business that
focuses on the discovery, development and commercialisation of prescription
medicines, primarily for the treatment of cardiovascular, metabolic,
respiratory, inflammation, autoimmune, oncology, infection and neuroscience
diseases. AstraZeneca operates in over 100 countries and its innovative
medicines are used by millions of patients worldwide. For more information
please visit: www.astrazeneca.com
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