The sale and licence of the rights to Seroquel and Seroquel XR in the UK, China and other international markets have been granted by AstraZeneca ( to Luye Pharma Group Ltd ( Seroquel is a medicinal product for the treatment of schizophrenia and bipolar disease that has lost its compound IP protection globally; Seroquel XR formulation patents have also expired in many markets. According to the company, Luye Pharma will pay AstraZeneca $538m.The transaction is expected to close by the end of Q2 2018.