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Pfizer to Buy Antibiotics From AstraZeneca for $725 Million

  • U.K. drugmaker to get up to $850 million if certain goals met
  • Deal gives Pfizer Zavicefta for drug-resistant infections

Pfizer Inc. agreed to buy an antibiotics business from AstraZeneca Plc for $725 million as well as other payouts, settling for one piece of a company it once tried to acquire.

Pfizer will pay $550 million to AstraZeneca when the transaction closes and make another payment of $175 million in January 2019, according to a statement Wednesday. In addition, AstraZeneca is eligible to receive as much as $250 million in milestone payments, up to $600 million in sales-related payments, as well as certain royalties.

New York-based Pfizer has been looking for ways to bolster its pipeline after two failed attempts at a major acquisition, first with AstraZeneca in 2014, then with Allergan Plc this year. The U.S. drugmaker this...


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