AstraZeneca (NYSE:AZN) announced yesterday that it completed the divestment of the commercial rights to Atacand to Cheplapharm.
United Kingdom-based AstraZeneca’s Atacand (candesartan cilexetil) is a selective AT 1 subtype angiotensin II receptor antagonist indicated for managing hypertension in adults and children, along with heart failure in adults.
In addition to the commercial rights to Atacand, AstraZeneca is divesting the rights to Atacand Plus, according to a news release. Atacand Plus is indicated for the management of hypertension when candesartan or hydrochlorothiazide monotherapy is not sufficiently effective. Cheplapharm received the commercial rights in over 70 countries throught the agreement.
AstraZeneca developed Atacand in collaboration with Takeda Pharmaceutical, with each company holding exclusive rights to the treatment in certain countries and co-marketing in other countries.
Under the agreement, AstraZeneca received a payment of $250 million from Cheplapharm and will receive further non-contingent payments equal to $150 million during the first half of 2021. All payments are slated to total $400 million and will be reported in AstraZeneca’s financial statements within operating income for the fourth quarter of 2020.