AstraZeneca sells rights to anaesthetics to South Africa's Aspen
LONDON, June 9 (Reuters) - AstraZeneca (NYSE: AZN - news) said on Thursday it had agreed to sell the commercialisation rights for its portfolio of anaesthetics outside the United States to South Africa's Aspen Pharmacare (Other OTC: APNHY - news) for an initial payment of $520 million.
The agreement covers seven established medicines - Diprivan for general anaesthesia, EMLA, a topical anaesthetic, and five local anaesthetics - the British company said.
Aspen will also pay AstraZeneca up to $250 million in product sales-related payments as well as double-digit percentage trademark royalties. (Reporting by Paul Sandle; Editing by Ben Hirschler)