AstraZeneca Plc to sell commercial rights of Atacand and Atacand Plus in around 70 countries

AstraZeneca Plc (LON: AZN) has agreed to sell the commercial rights of two of its medicine Atacand and Atacand Plus in around 70 countries across the globe to Cheplapharm Arzneimittel GmbH.

  • The company will receive a total of $400million in non-contingent consideration from Cheplapharm, of which $250million will be payable on completion and the remainder in the first half of 2021.
  • The company will continue to manufacture and supply Atacand (candesartan cilexetil) used for or the treatment of heart failure and Atacand Plus (a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) used for the treatment of hypertension.
  • It will also continue to commercialise medicine during a three-year transition period.
  • On 30 October 2020, the stocks of the company declined by 0.60% from its previous closing, hovering at around GBX 7,829.00 at 10:35 AM GMT+1.