AstraZeneca Sells Rights To Embattled Bipolar Drug For $35M

Law360 (December 4, 2019, 1:43 PM EST) -- AstraZeneca has agreed to sell the rights to its antipsychotic Seroquel in the U.S. and Canada for $35 million, in a move that offloads the bipolar drug at the center of recent litigation accusing the pharmaceutical giant of running a pay-for-delay scheme to block generic versions.

The British-Swedish company said Tuesday in documents filed with the U.S. Securities Exchange Commission that it will sell the commercial rights to Seroquel and Seroquel XR, used to treat schizophrenia and bipolar disorder, to German pharmaceutical company Cheplapharm Arzneimittel GmbH for $35 million and future payments up to $6 million.

Ruud Dobber, vice president of...

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