AstraZeneca PLC said on Monday that it has completed the sale of its commercial rights to the drug Atacand for the management of hypertension to the German pharmaceutical company Cheplapharm Arzneimittel GmbH for $ 400 million.
The British-Swedish pharmacist said he had already received a payment of $ 250 million as part of the sale and would receive an additional $ 150 million during the first half of 2021.
Atacand and Atacand Plus generated a pre-tax profit of $ 89 million in 2019 in the 70 countries covered by the sale agreement, the company said.
The drug was developed in collaboration 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