AstraZeneca is selling rights to its heart failure and hypertension brand Atacand in Europe, in a move that it says will expand its commercial potential in 28 countries.
Cheplapharm Arzneimittel GmbH has snapped up rights to Atacand (candesartan cilexetil) and Atacand Plus (fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) for $200 million on deal completion, a time-bound payment of $10 million, and sales-contingent milestones.
These medicines generated sales of $300 million globally in 2017, which includes $86 million in Europe.
“This agreement forms part of our strategy of streamlining our portfolio of mature medicines to enable reinvestment in our main therapy areas and bringing new medicines to patients,” said Mark Mallon, executive vice president, Global Product & Portfolio Strategy, explaining the move.
“Cheplapharm’s strong European presence will help expand the commercial potential of Atacand.”
The agreement is expected to complete in the third quarter of 2018.