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On the morning of October 30, AstraZeneca said it would sell commercial rights to two cardiovascular drugs, Atcand and Atcand Plus, for $400 million to Germany's Cheplapharm Arzneimittel GmbH, which are approved for treatment of heart failure and hypertension, respectively, and are currently available in about 70 countries worldwide.
for Cheplapharm, the agreement is based on an agreement to award Atcand a regional distribution rights in Europe in 2018. AstraZeneca, which sells the well-used cardiovascular drug Kandyshatan, announced today that the agreement will allow the company to expand the use of the cardiovascular drug to other countries around the world.
Atcand is a selective AT1 sub-type angiotensin-stressor antagonist that can be used to treat high blood pressure in adults and children/adolescents, as well as heart failure in adults.
Atacand Plus is the recommended drug when candishatan esters or hydrochlorophenidate monodiotherapy for hypertension is ineffective.
terms of the agreement, AstraZeneta will continue to produce and supply Atcand and Atticand plus and will continue to commercialize the drug during the three-year transition period.
of the $400 million payment for the two drugs, Cheplapharm will pay AstraZeneta $250 million up front when the deal closes in the fourth quarter of this year, with the remaining $150 million to be paid in the first half of 2021.
, the sale of operating income will be billed as other operating income in AstraZeneta's 2020 financial statements and will not affect its full-year 2020 financial forecast.
also reported sales of $148 million and pre-tax profits of $89 million in 70 countries last year, according to AstraZenecom.
For AstraZeneta, the sale of a global commercial interest in the two drugs is part of the company's strategic management of mature drugs, and the cash revenue recovered will better complement the company's current funding progress on core therapies and bring better innovative drugs to patients.
has made an intensive and strategic sale of mature drugs in recent years. Read: AstraZeneta's $920 million sale of two stomach drugs the german established drug company has taken over.
in 2019, the two companies reached a separate agreement on acid reflow therapy.
Cheplapharm obtains commercial rights to omeprazole and related brands containing omeprazole sold by AstraZeneta or its partners under the Acimax, Antra, Mepral, Mopral, Omepral and Zoltum brands.
omeprazole is a proton pump inhibitor discovered and developed by AstraZenecon to help reduce excess stomach acid due to acid reflow and ulcers.
source: 1. AstraZeneca Divest Rights to Twovascular Cardio Drugs for $400 Million2.Atacand to be divested to Cheplapharm in more than 70 countries