Seroquel and Seroquel XR are atypical anti-psychotic medicines with antidepressant properties. Credit: Luke-2.

German pharmaceutical firm Cheplapharm Arzneimittel has signed an agreement to acquire commercial rights for Seroquel and Seroquel XR in the US and Canada from AstraZeneca.

Seroquel is an immediate-release formulation of quetiapine fumarate for the treatment of schizophrenia and bipolar disorder.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Meanwhile, Seroquel XR is an extended-release formulation for major depressive disorder and generalised anxiety disorder.

The drugs have lost their patent protection in multiple markets, including the US and Canada. Last year, Seroquel and Seroquel XR recorded $36m and $79m in sales, respectively, in these countries.

AstraZeneca will receive $35m in upfront payment from Cheplapharm and is also eligible for up to $6m in future sales-contingent payments.

The divestiture is part of AstraZeneca’s strategy to reinvest in core therapy areas. The deal is not associated with any closing conditions and became effective upon signing, said the company.

AstraZeneca agreed to produce and supply the drugs to Cheplapharm during a transition period.

In October the company agreed to sell the commercial rights for the drugs in Europe and Russia to Cheplapharm. The transaction is subject to customary closing conditions and regulatory clearances and is expected to close over the coming months.

AstraZeneca BioPharmaceuticals business unit executive vice-president Ruud Dobber said: “This divestment supports our strategy of reducing the number of mature medicines to enable reinvestment in our main therapy areas.

“Cheplapharm recently agreed to acquire the commercial rights to Seroquel and Seroquel XR in most European markets and Russia from AstraZeneca and this new agreement will help ensure continued patient access to this important established medicine in North America as well.”

AstraZeneca agreed in May last year to sell rights to Seroquel and Seroquel XR in the UK, Japan, China and other international markets to Luye Pharma.