AstraZeneca entered an agreement with Pfizer to sell the commercialisation and development rights to its late-stage small molecule antibiotics business in most markets globally outside the US. The portfolio comprises the approved antibiotics meropenem, ceftaroline fosamil and ceftazidime-avibactam, and two further products still under clinical development (ATM-AVI and CXL).

Under the terms of the agreement, Pfizer will make an upfront payment to AstraZeneca of $550 million upon completion and a further unconditional payment of $175 million in January 2019.