AstraZeneca Sells Small-Molecule Antibiotics To Pfizer But Still Investing In R&D
AstraZeneca is selling its late-stage small molecule antibiotics business to Pfizer in a deal that could reach more than $1.5bn, but the company – one of just a few big pharmas working in antibiotics R&D – says it will continue to study novel antibiotics via its MedImmune biologics division.
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Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.
The Swiss major says that while the science for its antibacterial and antiviral research programs is compelling, "we have decided to prioritize our resources in other areas where we believe we are better positioned to develop innovative medicines."
Pfizer will reorganize from two business units to three, creating a separate Consumer Healthcare unit alongside Innovative Medicines and Established Medicines. The changes will not be effective until the beginning of 2019.