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AstraZeneca carving out antibiotic R&D into separate firm

Reuters - UK Focus

LONDON, Feb 27 (Reuters) - Drugmaker AstraZeneca has decided to carve out its early-stage antibiotic research by creating a stand-alone subsidiary company, as it sharpens its focus on other therapy areas.

Chief Executive Pascal Soriot said last year he was looking to partner or sell its anti-infective business, which is no longer viewed as a core area for the British drugmaker.

AstraZeneca (NYSE: AZN - news) said in an emailed statement it would invest $40 million in the new antibiotic company, which will include early-stage products such as a drug in Phase II for gonorrhoea. The carve-out will impact approximately 95 employees based in Waltham, Massachusetts.

The new structure has no impact on anti-infective products already on the market, including Merrem, Zinforo, Fluenz/Flumist and Synagis. (Reporting by Ben Hirschler)