Business
AZ completes US Aralez agreement for Toprol-XL
AZ completes US Aralez agreement for Toprol-XL.
About this update from Astrazeneca Plc
[{"type":"text","content":"\n \nRNS Number : 8873N AstraZeneca PLC 31 October 2016 \n\n \n31 October 2016 13:45\n \nASTRAZENECA COMPLETES AGREEMENT WITH ARALEZ \nFOR BETA-BLOCKER MEDICINE TOPROL-XL IN THE US\n \nAstraZeneca today announced the completion of its agreement with Aralez Pharmaceuticals Trading DAC, a subsidiary of Aralez Pharmaceuticals Inc., for the rights to branded and authorised generic Toprol-XL (metoprolol succinate) in the US. Toprol-XL is a beta-blocker medicine for the control of hypertension (high blood pressure), angina (chest pain) and heart failure, first approved in the US in 1992.\n \nUnder the agreement, AstraZeneca has received $175 million for the rights to Toprol-XL tablets in the US, and the authorised generic medicine marketed by Par Pharmaceuticals. Aralez will also pay AstraZeneca up to $48 million in milestone and sales-related payments, as well as mid-teen percentage royalties on sales. As AstraZeneca will retain an ongoing interest in Toprol-XL in the US through the ongoing milestones, royalties and product supply, these payments will be reported as Externalisation Revenue in the Company's financial statements.\n \nAbout AstraZeneca\nAstraZeneca 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 main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.\n \n \n\n\n\n\nMedia Enquiries\n \n\n\n \n \n\n\n \n \n\n\n\n\nNeil Burrows\n \n\n\nUK/Global\n \n\n\n+44 203 749 5637\n \n\n\n\n\nVanessa Rhodes\n \n\n\nUK/Global\n \n\n\n+44 203 749 5736\n \n\n\n\n\nKaren Birmingham\n \n\n\nUK/Global\n \n\n\n+44 203 749 5634\n \n\n\n\n\nRob Skelding\n \n\n\nUK/Global\n \n\n\n+44 203 749 5821\n \n\n\n\n\nJacob Lund\n \n\n\nSweden\n \n\n\n+46 8 553 260 20\n \n\n\n\n\nMichele Meixell\n \n\n\nUS\n \n\n\n+1...