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22 May 2017Big Pharma

AstraZeneca sells beta-blocker commercial rights for $300m

Pharmaceutical company Recordati has paid AstraZeneca $300 million for the European commercial rights to beta-blockers.

The beta blockers, Seloken/Seloken Zok (metoprolol tartrate/metoprolol succinate) and Logimax (metoprolol succinate and felodipine), are used for the treatment of hypertension, angina and heart failure.

Under the agreement,  announced today, AstraZeneca will also receive sales-related income through tiered royalties.

Mark Mallon, executive vice president at AstraZeneca, said: “This agreement allows us to concentrate our resources on bringing multiple new medicines to patients.”

He added: “Recordati’s expertise in cardiovascular disease and established European salesforce will help to expand the commercial potential of the Seloken brands.”

According to a  press release, the Seloken brands and Logimax sold $110 million in Europe last year alone.

The transaction is expected to be completed in the second quarter of 2017.

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Big Pharma
12 March 2018   Pharmaceutical company Recordati suffered a setback last week after the EU General Court dismissed its appeal over a trademark registration.

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Big Pharma
12 March 2018   Pharmaceutical company Recordati suffered a setback last week after the EU General Court dismissed its appeal over a trademark registration.

More on this story

Big Pharma
12 March 2018   Pharmaceutical company Recordati suffered a setback last week after the EU General Court dismissed its appeal over a trademark registration.