AstraZeneca has handed China Medical System (CMS) certain rights to its heart and blood pressure drugs Imdur and Plendil in deals worth some $500 million.
CMS will pay AZ $310 million for the right to sell Plendil (felodipine) in China. The drug is a calcium antagonist used for the treatment of hypertension and the prophylaxis of chronic stable angina pectoris.
Under the deal, the Anglo-Swedish drug giant will maintain a significant, long term interest in the future value derived from Plendil sales in China, and will manufacture and supply the medicine to CMS.
“The agreement ensures widespread patient access to an established medicine and continued long-term revenues, while focusing our resources on commercialising innovative new medicines from our pipeline across our main therapy areas,” Mark Mallon, executive vice president, International, at AZ.
Global rights (ex US) to Imdur, an oral extended-release formulation of isosorbide mononitrate indicated for the prevention of angina pectoris due to coronary artery disease, have been handed to CMS and its associate Tibet Rhodiola Pharmaceutical, for $190 million.