India, Dec. 4 -- AstraZeneca, a global, science-led biopharmaceutical company has agreed to sell the commercial rights toSeroquel(quetiapine fumarate immediate release) andSeroquel XR(quetiapine fumarate extended release) in the US and Canada to Cheplapharm Arzneimittel GmbH (Cheplapharm).

SeroquelandSeroquelXR, used primarily to treat schizophrenia and bipolar disorder, have lost their compound patent protection in the US and Canada.

Ruud Dobber, Executive Vice President, BioPharmaceuticals Business Unit, said: "This divestment supports our strategy of reducing the number of mature medicines to enable reinvestment in our main therapy areas. Cheplapharm recently agreed to acquire the commercial rights toSeroquelandSeroquel XRin most Eur...