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Luye Pharma Enters $538 Million Deal for AstraZeneca's Seroquel

publication date: May 9, 2018

Luye Pharma of Yantai will acquire rights to AstraZeneca's Seroquel in the UK, China and other countries for $538 million. Seroquel is an atypical anti-psychotic used to treat various forms of depression, schizophrenia, bipolar disorder and other conditions. The agreement includes Seroquel (quetiapine fumarate) and Seroquel XR, which produced revenues of $148 million annually in the covered territories. The drugs are off-patent in most countries. After a transition period, Luye will manufacture the drug. More details....

Stock Symbols: (HK: 2186) (NYSE: AZN)

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