StockMarketWire.com - AstraZeneca said it had completed an agreement to sell the US rights to lower respiratory tract infection treatment Synagis to Swedish Orphan Biovitrum for $1.6bn.

The payment included $1.0bn in cash and $590m in Swedish Orphan Biovitrum, equating to an ownership interest of 8%.

AstraZeneca had committed to retaining the shares for 12 months.

Swedish Orphan Biovitrum, also known as Sobi, would commercialise Synagis in the US and around 130 AstraZeneca employees had transferred to Sobi as part of the transaction.


At 2:06pm: [LON:AZN] AstraZeneca PLC share price was -36p at 5444p



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