AstraZeneca PLC said Monday it has completed the sale of its commercial rights to the Atacand hypertension management drug to German pharmaceutical company Cheplapharm Arzneimittel GmbH for $ 400 million.
The British-Swedish pharmaceutical major said it has already received a payment of $ 250 million as part of the sale, and will receive an additional $ 150 million in the first half of 2021.
Atacand and Atacand Plus generated pre-tax profit of $ 89 million in 2019 in the 70 countries covered by the sales agreement, the company said.
The drug was co-developed with Takeda Pharmaceutical Co., and each company had exclusive rights to the drug in certain countries.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT