AstraZeneca PLC Atacand divestment in over 70 countries completed (3967K)
January 04 2021 - 2:00AM
UK Regulatory
TIDMAZN
RNS Number : 3967K
AstraZeneca PLC
04 January 2021
4 January 2021 07:00 GMT
Atacand divestment to Cheplapharm in more than 70 countries
completed
AstraZeneca has completed the divestment of commercial rights to
Atacand ( candesartan cilexetil) and Atacand Plus (a fixed-dose
combination of candesartan cilexetil and hydrochlorothiazide ) in
over 70 countries
to Cheplapharm Arzneimittel GmbH ( Cheplapharm ).
Financial considerations
Under the terms of the agreement AstraZeneca received a payment
of $250m from Cheplapharm. AstraZeneca will receive further
non-contingent payments equal to $150m during the first half of
2021. The present value of all payments, totalling $400m, will be
reported in AstraZeneca's financial statements within Other
Operating Income in the fourth quarter of 2020.
Pursuant to London Stock Exchange listing rule 10.4.1R
(notification of class 2 transactions), in 2019 Atacand and Atacand
Plus generated product sales of $148m and profit before tax of $89m
in the countries covered by the agreement. The gross book value of
assets subject to the divestment at 31 December 2019 was $nil. The
consideration was and will be paid in cash, and the proceeds used
for general corporate purposes.
Atacand
Atacand (candesartan cilexetil) is a selective AT1 subtype
angiotensin II receptor antagonist that 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 candesartan or hydrochlorothiazide
monotherapy is not sufficiently effective. Atacand was developed in
collaboration with Takeda Pharmaceutical Company Limited. Each
company held the exclusive rights to the medicine in certain
countries; in other countries, Atacand was co-marketed.
AstraZeneca
AstraZeneca (LSE/STO/Nasdaq: AZN) 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
& Immunology. Based in Cambridge, UK, AstraZeneca operates in
over 100 countries and its innovative medicines are used by
millions of patients worldwide. Please visit astrazeneca.com and
follow the Company on Twitter @ AstraZeneca .
Contacts
For details on how to contact the Investor Relations Team,
please click here . For Media contacts, click here .
Adrian Kemp
Company Secretary
AstraZeneca PLC
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