Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca, said: "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. 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. AstraZeneca will continue to manufacture and supply Atacand and Atacand Plus under a supply agreement and will continue to commercialise the medicines in all markets where it still holds the rights.
Financial considerationsCheplapharm will pay AstraZeneca $200 million on completion of the agreement, plus a time-bound payment of $10 million and sales-contingent milestones. The upfront and time-bound payments are expected to be reported in the Company's financial statements in 2018. All income is expected to be reported as Other Operating Income. In 2017, global Product Sales for Atacand and Atacand Plus were $300 million, including $86 million in Europe. The agreement does not impact the Company's financial guidance for FY 2018.
About AtacandAtacand (candesartan cilexetil) is a selective, AT1 subtype angiotensin II receptor antagonist blocker (ARB) that is indicated for the treatment of hypertension and heart failure. Atacand is also available in Europe as a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide (Atacand Plus). Atacand is indicated for the management of hypertension in adults and children/adolescents, as well as heart failure in adults. Atacand Plus is indicated for the management of hypertension when monotherapy is not sufficiently effective. Atacand was developed in collaboration with Takeda. Each company holds the exclusive rights to the product in certain markets. In other markets, Atacand is co-marketed by both parties.
About AstraZenecaAstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal & Metabolism and Respiratory. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.