Company Overview of AstraZeneca AB
AstraZeneca AB researches, develops, manufactures, and markets pharmaceuticals for gastrointestinal, cardiovascular, respiratory, and pain control. The company was formerly known as Astra AB and changed its name to AstraZeneca AB in April 1999. The company was founded in 1913 and is based in Sodertalje, Sweden. AstraZeneca AB operates as a subsidiary of AstraZeneca PLC.
Sodertalje, 151 85
Founded in 1913
Key Executives for AstraZeneca AB
Compensation as of Fiscal Year 2016.
AstraZeneca AB Key Developments
AstraZeneca Enters into Supply Agreement with Aralez Pharmaceuticals Trading Dac
Oct 31 16
Aralez Pharmaceuticals Trading DAC (Aralez Ireland) has completed its acquisition of the U.S. rights to Toprol-XL(R) (metoprolol succinate) and its Authorized Generic (AG) from AstraZeneca. In connection with the transaction, the parties entered into a Supply Agreement pursuant to which AstraZeneca will continue to manufacture and supply Toprol-XL and the AG to Aralez Ireland for at least ten years. AstraZeneca will also continue to distribute the product on behalf of Aralez Ireland until the product is transferred, which could be up to nine months following the closing under a transitional services agreement. In accordance with the terms of the asset purchase agreement, the upfront amount of $175 million was paid at closing. The transaction was financed through a previously committed senior secured debt facility with Deerfield Management. In addition to the $175 million upfront payment to AstraZeneca, upon the closing of the transaction, Aralez borrowed funds under this credit facility to replenish $25 million that was previously paid from cash on hand in connection with the recently completed ZONTIVITY(R) acquisition. In addition, Deerfield has agreed to provide Aralez access to up to an additional $250 million in capital to fund future mutually agreeable acquisitions.
Insmed Incorporated Enters into License Agreement with AstraZeneca AB
Oct 5 16
On October 4, 2016, Insmed Incorporated entered into a license agreement with AstraZeneca AB. Pursuant to the terms of the License Agreement, AstraZeneca has granted the company global exclusive rights for the purpose of developing and commercializing AZD7986. The Compound is a novel oral inhibitor of dipeptidyl peptidase I. DPP1 is an enzyme that catalyzes the activation of neutrophil serine proteases, which play a key role in pulmonary diseases such as non-cystic fibrosis bronchiectasis. The License Agreement also provides the company with the right to grant sublicenses, subject to the satisfaction of certain conditions. In consideration of the licenses and other rights granted by AstraZeneca, the company will pay an upfront payment of $30 million within 30 days of signing the License Agreement, and will make a series of contingent milestone payments totaling up to an additional $85 million upon the achievement of clinical development and regulatory filing milestones. If the company elects to develop the Compound for a second indication, the company will make an additional series of contingent milestone payments equal to half of the contingent milestone payments in the preceding sentence. No additional milestone payments are due for any indications beyond the first and second indications. In addition, the company will pay AstraZeneca tiered royalties ranging from a high single-digit to mid-teen on net sales of any approved product based on the Compound and one additional payment of $35 million upon the first achievement of $1 billion in annual net sales. The License Agreement provides AstraZeneca with the option to negotiate a future agreement with the company for commercialization of the Compound in chronic obstructive pulmonary disease or asthma. The License Agreement is effective as of October 4, 2016 and will continue in effect until such time as the company no longer owes any royalty payments to AstraZeneca, unless earlier terminated by either party pursuant to the terms of the License Agreement.
AstraZeneca AB Presents at 16th Annual Biotech in Europe Forum, Sep-27-2016
Jun 17 16
AstraZeneca AB Presents at 16th Annual Biotech in Europe Forum, Sep-27-2016 . Venue: MCH Messe Schweiz (Basel) AG, Messepl. 21, CH-4058 Basel, Switzerland. Speakers: Shane Maloney, Business Development Director.
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