Aspen to buy rights to AstraZeneca’s global anaesthetics portfolio outside US

South African generic-drugs maker Aspen will also pay AstraZeneca royalties and about $250m in additional sales-based installments in the next two years.

AstraZeneca’s anaesthetics portfolio includes five local anesthetics, Xylocaine/Xylocard/Xyloproct, Marcaine, Naropin, Carbocaine and Citanest; one topical anesthetic EMLA; and one general anaesthesia Diprivan.

The company divested the US rights to the products to Abraxis, now part of Fresenius Kabi, in 2006.

The products, which are sold in over 100 countries globally, generated revenues of $592m in the year ended 31 December 2015.

AstraZeneca will manufacture and deliver the products on a cost plus basis to AGI for an initial period of 10 years.

Upon completion, Aspen will take over responsibility for all activities associated to the sale of the portfolio in all relevant markets.

AstraZeneca CEO Pascal Soriot said: "AstraZeneca has a rich heritage in anaesthetic medicines and this agreement will extend the reach of our established portfolio to a greater number of patients through AGI’s extensive commercial network. This agreement supports our strategic focus on the new medicines in three main therapy areas."

Aspen said it has identified anaesthetics as a therapeutic category that presents the opportunity to add significant value.

The company noted that the key territories in which the portfolio is divested represent an excellent fit with its current operational geographic footprint.

Image: AstraZeneca has entered into commercialisation agreement with Aspen for anaesthetic medicines portfolio. Photo: courtesy of AstraZeneca.