AstraZeneca : to Sell Atacand Rights in Around 70 Countries for $400 Million

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 [e-mail]

(END) Dow Jones Newswires

10-30-20 0328ET