AstraZeneca has agreed to sell the commercial rights to Atacand (candesartan cilexetil) and AtacandPlus (a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) in around 70 countries globally to Cheplapharm.
Atacand is aprescription medicine approved for the treatment of heart failure (HF) and hypertension. Atacand Plus is approved for the treatment of hypertension.
“This agreement forms part of our strategy to carefully manage the mature medicines, enabling reinvestment in our main therapy areas to bring innovative new medicinesto patients. Cheplapharm previously acquired the rights to Atacand in Europe and will now ensure continued patient access tothis important established medicine in additional countries across the globe,” says Ruud Dobber, Executive Vice President, BioPharmaceuticals Business Unit, AstraZeneca.
AstraZeneca will continue to manufacture and supply Atacand and Atacand Plus and will continue to commercialise the medicine during a three-year transition period. The agreement covers a total of more than 70 countries.
Cheplapharm will pay AstraZeneca a total of $400m in non-contingent consideration, of which the present value will be recognised as Other Operating Income upon completion of the transaction, anticipated during the fourth quarter of 2020. The divestment will not impact the Company’s financial guidance for 2020.
“A total of $400m in non-contingent consideration”
Of the $400m consideration, $250m will be payable on completion and the remainder in the first half of 2021.
Photo of Ruud Dobber: AstraZeneca