AstraZeneca to Sell Atacand Rights in Around 70 Countries for $400 Million
October 30 2020 - 3:43AM
Dow Jones News
By Adria Calatayud
AstraZeneca PLC said Friday that it has agreed to sell
commercial rights to its Atacand and Atacand Plus drugs in around
70 countries to Cheplapharm Arzneimittel GmbH for $400 million.
The British pharmaceutical giant said the agreement supports its
strategy of focusing on newer medicines in its main therapy areas.
Atacand and Atacand Plus generated sales of $148 million and pretax
profit of $89 million last year in the countries covered by the
agreement, it said. The company's 2020 guidance won't be affected
by the deal.
Atacand is a prescription medicine approved for the treatment of
heart failure and hypertension, and Atacand Plus is approved for
the treatment of hypertension, the company said.
AstraZeneca said it will continue to manufacture and supply
Atacand and Atacand Plus, and will continue to commercialize the
medicine during a three-year transition period.
Completion of the deal is anticipated during the fourth quarter
of 2020, AstraZeneca said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 30, 2020 03:28 ET (07:28 GMT)
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