Swedish Orphan Biovitrum AB (Sobi) has agreed to pay up to $1.5 billion upfront to AstraZeneca Plc for US rights to Synagis (palivizumab), an off-patent medicine for the prevention of serious lower respiratory tract infection caused by the respiratory syncytial virus (RSV) in infants and young children.
The upfront payment consists of cash and newly issued Sobi shares which will give AstraZeneca an equity interest in the Swedish company of about 8%.