AstraZeneca sells European rights for heart failure treatment for $210M
24 July 2018 | News
Cheplapharm would pay AstraZeneca $200m on completion of the agreement, expected to be finalised in the third quarter of 2018, plus a time-bound payment of $10m and sales-contingent milestones.
Singapore - AstraZeneca has agreed to sell the European commercial rights to hypertension and heart failure meds Atacand (candesartan cilexetil) and Atacand Plus (candesartan cilexetil/hydrochlorothiazide) to Cheplapharm Arzneimittel GmbH.
AZN will continue to manufacture and supply the products under a supply agreement and will continue to commercialize both in all markets where it retains rights.
Under the terms of the agreement, AZN will receive $200M, a time-bound payment of $10M and sales-related milestones. The deal should close this quarter.
