Business
AstraZeneca divests hypertension medicines
AstraZeneca divests hypertension medicines.
About this update from Astrazeneca Plc
[{"type":"text","content":"\n \nRNS Number : 9329A AstraZeneca PLC 27 January 2020 \n\n27 January 2020 07:00 GMT\n \nAstraZeneca divests rights to established hypertension medicines\n \nSale of Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs Pharma\nsupports AstraZeneca's strategy of focusing on pipeline of new medicines\n \nAstraZeneca has agreed to sell the global commercial rights to Inderal (propranolol), Tenormin (atenolol), Tenoretic (atenolol, chlorthalidone fixed-dose combination), Zestril (lisinopril) and Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination) to Atnahs Pharma (Atnahs).\n \nThe agreement excludes the rights in the US and India, which were previously divested, and in Japan, which will be retained by AstraZeneca. The medicines, used primarily to treat hypertension, have lost their patent protection globally.\n \nRuud Dobber, Executive Vice President, BioPharmaceuticals, said: \"These are important established medicines, and the divestment to Atnahs ensures they will continue to be available to patients. This transaction supports our strategy to realise value from our portfolio of non-core mature brands, enabling further investment in new medicines.\"\n \nAstraZeneca will continue to manufacture and supply Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs during a transition period.\n \nFinancial considerations\nAtnahs will make an upfront payment of $350m to AstraZeneca. AstraZeneca may also receive future sales-contingent payments of up to $40m between 2020 and 2022. Income arising from the upfront and future payments will be reported in AstraZeneca's financial statements within Other Operating Income & Expense.\n \nIn 2018, Inderal, Tenormin, Tenoretic, Zestril and Zestoretic generated annual sales of $132m in the markets covered by this agreement. The divestment is expected to complete in the first quarter of 2020, subject to customary closing conditions and regulatory clearances. \n \nInderal\nInderal (propranolol) is a beta-blocker and is predominantly used to treat tremors, angina, hypertension, arrhythmias, and other heart or circulatory conditions. It is also used to reduce the severity and frequency of migraine.\n \nTenormin and Tenoretic\nTenormin (atenolol) is a beta-blocke...