AstraZeneca (LON:AZN) today announced that it has completed the previously communicated agreement with Atnahs Pharma to divest its global commercial rights to Inderal (propranolol), Tenormin (atenolol), Tenoretic (atenolol, chlorthalidone fixed-dose combination), Zestril (lisinopril) and Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination).
Financial considerations
Under the terms of the agreement, AstraZeneca has received a payment of $350m from Atnahs. The Company may also receive future sales-contingent payments of up to $40m between 2020 and 2022. The upfront payment will be reported in AstraZeneca’s financial statements within Other Operating Income & Expense in the first quarter of 2020.
Inderal
Inderal (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.
Tenormin and Tenoretic
Tenormin (atenolol) is a beta-blocker that is used to treat angina and hypertension, as well as certain kinds of arrhythmias. It is also used to lower the risk of death after a heart attack. Tenoretic is a fixed-dose combination of atenolol (beta-blocker) and chlorthalidone (diuretic), used to treat high blood pressure.
Zestril and Zestoretic
Zestril (lisinopril) is an angiotensin-converting enzyme (ACE) inhibitor used to treat hypertension, congestive heart failure, diabetic-related conditions and hypertensive renal disease. Zestril may also be used to improve survival after a heart attack. Zestoretic is a fixed-dose combination of lisinopril (ACE inhibitor) and hydrochlorothiazide (diuretic) used to treat hypertension.
AstraZeneca
AstraZeneca 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 therapy areas – Oncology, Cardiovascular, Renal and Metabolism, and Respiratory. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.
