OR WAIT 15 SECS
The transaction is set to be completed during the fourth quarter of 2020.
AstraZeneca announced on Oct. 30, 2020 that it is selling the commercial rights to Atacand (candesartan cilexetil) and Atacand Plus (a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide), its heart failure and hypertension prescription drugs, in more than 70 countries to Germany-based Cheplapharm Arzneimittel for $400 million.
Under the terms of the agreement, Cheplapharm will pay AstraZeneca a total of $400 million in non-contingent consideration, which will be known as the other operating income until the anticipated completion of the transaction during the fourth quarter of 2020, an AstraZeneca press release said.
“This agreement forms part of our strategy to carefully manage the mature medicines, enabling reinvestment in our main therapy areas to bring innovative new medicines to patients,” said Ruud Dobber, executive vice-president, BioPharmaceuticals Business Unit, AstraZeneca. “Cheplapharm previously acquired the rights to Atacand in Europe and will now ensure continued patient access to this important established medicine in additional countries across the globe.”