StockMarketWire.com - AstraZeneca said it had agreed to sell the rights to its anti-psychotic drugs in Europe and Russia to Cheplapharm for up to $239m.

The drug company previously sold the rights to its anti-psychotic drugs, Seroquel and Seroquel XR, in the UK, Japan and other major international markets.

AstraZeneca also agreed to sell the rights to the medicines in the US and Canada to Cheplapharm earlier this year.

Under the terms of the agreement, AstraZeneca had received a payment of $178m from Cheplapharm and may also receive future sales-contingent payments of up to $61m.

Story provided by StockMarketWire.com