Swedish Orphan Biovitrum AB (Sobi) has acquired the United States rights for Synagis (palivizumab), a drug developed for the prevention of serious lower respiratory tract infection (LRTI) caused by respiratory syncytial virus (RSV), from AstraZeneca.

It was reported yesterday that the deal is valued at around USD1.6bn. It also provides Biovitrum AB with the right to participate in payments from the US profits or losses for new medicine, MEDI8897, in development for RSV-induced lower respiratory tract infection. Under the deal, around 130 employees from AstraZeneca have joined Sobi, which commercialises Synagis in the United States.

AstraZeneca will continue to develop the product in collaboration with Sanofi's vaccines division, Sanofi Pasteur. Under the contract, AstraZeneca has secured USD1.0bn in cash and USD590m in ordinary shares of Biovitrum AB, which is equal to an ownership interest of 8%. AstraZeneca intends to retain the shares for one year.