9:13 AM
 | 
May 07, 2018
 |  BC Extra  |  Company News

Luye paying AZ $538M for antipsychotic

Editor's Note: This article was updated on May 07, 2018 at 12:30 PM PDT

AstraZeneca plc (NYSE:AZN; LSE:AZN) granted Luye Pharma Group Ltd. (HKSE:2186) territorial rights to antipsychotic drug Seroquel quetiapine fumarate and its extended release formulation, Seroquel XL. Luye received rights in 51 countries and regions including China, the U.K., Brazil, Australia, Saudi Arabia, Mexico, South Korea, Thailand, Argentina, Malaysia and South Africa.

AstraZeneca is to receive $538 million, payable in three installments, according to a Luye regulatory filing in Hong Kong. The deal includes $260 million upon...

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