AstraZeneca sells European rights to Atacand
AstraZeneca PLC (AZN.LN) said Tuesday that it has sold the European rights to its Atacand and Atacand Plus heart drugs to Cheplapharm Arzneimittel GmbH for an initial payment of $200 million.
AstraZeneca will receive a further payment of $10 million plus sales-contingent milestones, it said.
The Anglo-Swedish pharmaceutical major said the deal continues its strategy of streamlining its portfolio of mature drugs to enable investment in its main therapy areas.
The company said it expects the deal to close in the third quarter of 2018. It will continue to manufacture and supply the drugs in a supply agreement, and it will continue to commercialize the drugs in all markets where it still holds rights.
Source: Read Full Article