The Pharma giant AstraZeneca is still struggling even if in better shape. It just sold one of his rare disease drug already on the market to THE rare disease Biotech Genzyme, now part of Sanofi.
AstraZeneca is under pressure. Last April 2015, the company reported a fall in revenues and profits (7% lower than previous year). Its old products have seen an increase in competition from generics. To compensate, AZ is investing massively in its pipeline, as the figure below illustrates well.
AstraZeneca is clearing its non-core drugs out to raise cash. The money generated by these jumble sales is being used mainly to sustain the large pipeline of new products that could reach the market soon.
The last announcement is following the last trend. AstraZeneca sold Caprelsa to Genzyme, a rare disease drug (for aggressive and symptomatic medullary thyroid carcinoma) that is already on the market in 28 different countries. The drug generated $48M global sales in 2014. Genzyme will pay $300M for global rights, including an upfront of $165M and milestone payments up to $135M.