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AstraZeneca sells rights to older heart med for $300M+

May 22, 2017

AstraZeneca plc (AZN.L, AZN) announced it has entered into an agreement with Recordati for the commercial rights to Seloken/Seloken ZOK and associated Logimax fixed-dose combination treatments in Europe. Recordati will pay AstraZeneca$300 million upon completion of the agreement. AstraZeneca will also receive sales-related income through tiered royalties, initially at a double-digit percentage of sales. AstraZeneca will manufacture and supply the medicines to Recordati under a supply agreement.

Seloken is indicated for the control of a range of conditions including hypertension, angina pectoris, disturbances of cardiac rhythm, maintenance treatment after myocardial infarction and functional heart disorders with palpitations. Logimax is the fixed-dose combination of metoprolol succinate with felodipine. It is indicated for the control of hypertension.

AstraZeneca said the agreement does not impact the company’s financial guidance for 2017. The company will continue to commercialise the medicines in all other markets, where it holds the rights.

http://bit.ly/2qGrAqy

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