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AstraZeneca To Sell Commercial Rights For Losec To Cheplapharm - Quick Facts

AstraZeneca plc (AZN.L,AZN) has agreed to sell the global commercial rights, excluding China, Japan, the US and Mexico, for Losec (omeprazole) and associated brands to Cheplapharm. Cheplapharm will pay AstraZeneca approximately $243 million, plus sales-contingent milestones of up to $33 million. Losec is a proton pump inhibitor discovered and developed by AstraZeneca, which helps to reduce the amount of acid produced by the stomach in patients with gastrointestinal reflux conditions and ulcers.

Separately, AstraZeneca said the US FDA has issued a complete response letter regarding the New Drug Application for PT010. The company said it will now work closely with the FDA regarding next steps, including submitting for review recent results from the second positive Phase III trial, ETHOS.

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