UK pharmaceutical giant AstraZeneca (AZN) said today it will sell the commercial rights for two of its heart failure and blood pressure medicines to German pharmaceutical company Cheplapharm Arzneimittel GmbH for £307m.
Cheplapharm, which already holds the European rights for Atacand and Atacand Plus since 2018, can sell now them in around 70 countries under the deal.
Atacand is a prescription drug approved to treat heart failure and hypertension, while Atacand Plus is used for hypertension.
The transaction, expected to close in the fourth quarter, will not impact its 2020 financial forecast, AstraZeneca confirmed.
AstraZeneca will manufacture and supply both the medicines and commercialise them during a three-year transition period, the company added.