Business

Genzyme to buy thyroid cancer drug from AstraZeneca for $300 million

CAMBRIDGE — Genzyme agreed to buy a thyroid cancer treatment for as much as $300 million from AstraZeneca Plc to boost its rare disease medicine offerings.

Genzyme, a unit of French drugmaker Sanofi, will pay AstraZeneca $165 million upfront to acquire the global rights to sell and further develop Caprelsa, and further development and sales milestone payments of up to $135 million, it said in a statement.

Caprelsa is currently available in 28 countries for one type of thyroid cancer, and is in phase III trials for another.

Advertisement

“The addition of Caprelsa represents a strong strategic fit for our rare endocrinology portfolio and underscores Genzyme’s commitment to addressing unmet needs in the thyroid community,” David Meeker, Genzyme’s president and chief executive, said in the statement.

The transaction does not include the transfer of any AstraZeneca employees or facilities.