Sobi springboards U.S. growth in deal for AZ's Synagis

Swedish Orphan Biovitrum AB (SSE:SOBI) obtained U.S. rights to commercialize infectious disease drug Synagis palivizumab from AstraZeneca plc (LSE:AZN; NYSE:AZN) for $1.5 billion up front. Sobi called the deal, which also includes profit sharing with the pharma for MEDI8897, a stepping stone to driving growth in the U.S. that positions the company for more partnerships.

AZ will receive $1 billion in cash and $500 million in 24.2 million new shares, or SEK186 per share, representing about 8% ownership stake in Sobi. The price is a 4% premium to Sobi's Nov. 12 close of SEK179.45, before the deal was announced. The pharma will be eligible for up to $470 million in milestones related to Synagis sales, and about 130 AZ sales and marketing employees will join Sobi's team...