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AZ licenses Zoladex to TerSera for the US & Canada
AZ licenses Zoladex to TerSera for the US & Canada.
About this update from Astrazeneca Plc
[{"type":"text","content":"\n \nRNS Number : 2530X AstraZeneca PLC 20 February 2017 \n\nThis announcement contains inside information\n \n20 February 2017 07:00GMT\n \nASTRAZENECA ENTERS AGREEMENT WITH TERSERA THERAPEUTICS FOR ZOLADEX IN THE US AND CANADA\n \nAstraZeneca to receive upfront payment and sustainable and ongoing \nsales-based income \n \nAgreement expands the commercial potential of Zoladex in US and Canada \n \nAstraZeneca today announced that it has entered into an agreement with TerSera Therapeutics LLC (TerSera) for the commercial rights to Zoladex (goserelin acetate implant) in the US and Canada. Zoladex is an injectable luteinising hormone-releasing hormone agonist, used to treat prostate cancer, breast cancer and certain benign gynaecological disorders. It was first approved in the US and Canada in 1989.\n \nTerSera will pay AstraZeneca $250 million upon completion. AstraZeneca will also receive sales-related income through milestones totalling up to $70 million, as well as recurring quarterly sales-based payments at mid-teen percent of Product Sales. AstraZeneca will also manufacture and supply Zoladex to TerSera, providing a further source of ongoing income from Zoladex in the US and Canada.\n \nMark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca said: \"This agreement allows us to retain a significant share of the value of Zoladex in the US and Canada, while concentrating our resources on our innovative New Oncology medicines. It also ensures patients have continued access to Zoladex, with TerSera's dedicated focus helping to expand the potential of this important medicine.\"\n \nEd Fiorentino, Chairman and CEO of TerSera Therapeutics, said: \"We are very pleased to be partnering with AstraZeneca, and investing in the future growth of Zoladex, which continues to be a mainstay of treatment for its indicated uses.\"\n \nFinancial considerations ...