AZ sells rights to RSV virus drug to Sobi for $1.5bn

AstraZeneca has agreed to sell the rights to its drug Synagis (palivizumab) to Swedish Orphan Biovitrum (Sobi) for an upfront $1.5 billion in cash and shares, plus certain conditional payments. Synagis treats serious lower respiratory tract infection (LRTI) caused by the respiratory syncytial virus (RSV) in infants and young children at high risk of the disease. It is the only medicine approved to prevent serious RSV disease. Also, Sobi will now be able to take part in AstraZeneca’s share of profits and losses allied to MEDI8897, which is in development to prevent LRTI caused by RSV in all infants entering their first RSV season and children with chronic lung disease or congenital heart disease entering their first and second RSV season. AstraZeneca’s CEO Pascal Soriot said: “We continue to streamline our portfolio, allowing AstraZeneca to allocate resources more effectively, while Sobi’s focus on Synagis will enable infants in the US to continue benefiting from this important treatment.