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Pfizer to buy part of AstraZeneca antibiotic business for $1.6 billion

Delaware Public Media

Wilmington-based pharmaceutical giant AstraZeneca is selling part of its antibiotic wing to rival Pfizer for nearly $1.6 billion.

The deal includes three antibiotics already approved by the Food and Drug Administration, including Merrem, Zinforo and Zavicefta. 

Two others included in the sale, ATM-AVI and CXL, are still undergoing clinical trials.

Together, Merrem and Zinforo generated $250 million in sales in 2015, according to the company.

In a statement, Luke Miels, head of AstraZeneca's antibiotics division, said, "This agreement reinforces our strategic focus to invest in our three main therapy areas where we can make the greatest difference to patients’ lives."

The sale is expected to close by the end of the year.

In 2014, Pfizer twice tried to buy AstraZeneca for $103 billion and $119 billion, but the company turned down both offers.

It's unclear if the deal will result in any layoffs. An AstraZeneca spokeswoman said the effects would be ‘minimal’ in Delaware and the U.S., but she wouldn’t expand on what that might mean for workers.

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