An oncology duo deal
PARIS—Juvisé Pharmaceuticals has announced the successful completion of a transaction with AstraZeneca plc, regarding the acquisition of the commercial rights of two oncology products — Arimidex (anastrozole) and Casodex (bicalutamide) — in a number of European, African and other countries. The medicines have lost their compound patent protection in these countries. AstraZeneca already divested the rights to both Arimidex and Casodex in the U.S. in 2017.
Arimidex is an aromatase inhibitor, indicated primarily for the adjuvant treatment of postmenopausal women with hormone receptor-positive early breast cancer. It is the first-line treatment of postmenopausal women with hormone receptor-positive or hormone receptor-unknown locally advanced or metastatic breast cancer, and the treatment of advanced breast cancer in postmenopausal women with disease progression following tamoxifen therapy.
Casodex is an androgen-receptor inhibitor, indicated for use in combination therapy with a luteinizing hormone-releasing hormone analogue for the treatment of Stage D2 metastatic carcinoma of the prostate.
“We are very pleased to have successfully closed our first deal with AstraZeneca and to enter a therapeutic area with high medical needs such as oncology with Arimidex and Casodex, which are two widely recognized cancer treatments essential for both patients and physicians,” declared Frédéric Mascha, founder and president of Juvisé Pharmaceuticals.
This transaction between Juvisé Pharmaceuticals and AstraZeneca is a logical next step after multiple worldwide deals accomplished by Juvisé with several other big pharmaceutical companies over the past years. With this acquisition Juvisé Pharmaceuticals enters the oncology therapeutic area. The company wants to further expand and consolidate its fast-growing ambition.
As there were no closing conditions to the divestment, the agreement became effective upon signing. Juvisé Pharmaceuticals has made an upfront payment of $181M to AstraZeneca and may also make future sales-contingent payments of up to $17M. In 2018, Arimidex had sales of $37M in the countries covered by this agreement, and Casodex had sales of $24M.
“Arimidex and Casodex are important established medicines and we are pleased that Juvisé Pharmaceuticals will now take on the work of making sure patients continue to have access to them,” said Dave Fredrickson, executive vice president, Oncology Business Unit, AstraZeneca. “Today’s agreement is part of a broader strategy of reducing our portfolio of mature medicines to reallocate resources towards developing our pipeline of new medicines.”