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AstraZeneca sells rights to cancer drug for $250M

TerSera Therapeutics LLC acquired the U.S. and Canadian rights to AstraZeneca PLC's cancer drug Zoladex for an up-front payment of $250 million and up to a further $70 million in milestone-related payments and royalties on the drug's sale.

The sale was first announced in February.

Zoladex is an injectable luteinizing hormone-releasing medicine for treating prostate cancer, breast cancer and certain benign gynecological disorders, and was first approved in the U.S. and Canada in 1989.