AstraZeneca enters agreement with Recordati for Seloken in Europe

AstraZenecaAstraZeneca announced today that it has entered into an agreement with Recordati S.p.A (Recordati) for the commercial rights to Seloken/Seloken ZOK (metoprolol tartrate and metoprolol succinate respectively) and associated Logimax fixed-dose combination (metoprolol succinate and felodipine) treatments in Europe. Metoprolol succinate is a beta-blocker for the control of hypertension, angina and heart failure.

Recordati will pay AstraZeneca $300 million upon completion of the agreement. AstraZeneca will also receive sales-related income through tiered royalties, initially at a double-digit percentage of sales. AstraZeneca will manufacture and supply the medicines to Recordati under a supply agreement.

Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca, said: "This agreement allows us to concentrate our resources on bringing multiple new medicines to patients. Recordati's expertise in cardiovascular disease and established European salesforce will help to expand the commercial potential of the Seloken brands, which are mature medicines for the new AstraZeneca."

Financial considerations
In 2016, Product Sales for the Seloken brands and Logimax were $110 million in Europe. AstraZeneca will continue to commercialise the medicines in all other markets, where it holds the rights. The transaction is expected to complete in the second quarter of 2017, subject to customary closing conditions and regulatory clearances. Based on the level of ongoing interest AstraZeneca will retain in the brands in Europe, the $300 million upfront and tiered royalties will be reported as Other Operating Income in the Company's financial statements. The agreement does not impact the Company's financial guidance for 2017.

About Seloken
Seloken (metoprolol) is indicated for the control of a range of conditions including hypertension, angina pectoris, disturbances of cardiac rhythm, maintenance treatment after myocardial infarction and functional heart disorders with palpitations. It is available in European markets under brand names including Seloken, Seloken ZOK (extended release), Selo-Sok and Betaloc ZOK. Logimax is the fixed-dose combination of metoprolol succinate with felodipine. It is indicated for the control of hypertension.

About 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 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.

Most Popular Now

Making biological drugs with spider silk protein

Researchers at Karolinska Institutet in Sweden have managed to synthesise lung surfactant, a drug used in the care of preterm babies, by mimicking the production of spide...

Boehringer Ingelheim builds Digital Lab "BI X…

With the founding of BI X as independent subsidiary Boehringer Ingelheim will focus on breakthrough innovative digital solutions in healthcare from idea to pilot. The sta...

Bacteria used as factories to produce cancer drugs

Researchers at the Novo Nordisk Foundation Center for Biosustainability in Denmark have developed a method of producing P450 enzymes - used by plants to defend against pr...

Bristol-Myers Squibb announces new collaboration t…

Bristol-Myers Squibb Company (NYSE:BMY) announced today it has entered into a clinical research collaboration with Novartis to investigate the safety, tolerability and ef...

Clinical trial shows experimental drug's ability t…

By adding an experimental drug to a standard chemotherapy regimen, a subset of patients with metastatic pancreatic cancer had a significantly longer period before the can...

Take a coffee or tea break to protect your liver

Chronic liver diseases rank as the 12th cause of death worldwide and many of these disorders are associated with unhealthy lifestyles. Conversely, a healthier lifestyle c...

Internet withdrawal increases heart rate and blood…

Scientists and clinicians from Swansea and Milan have found that some people who use the internet a lot experience significant physiological changes such as increased hea...

Novartis presents data demonstrating efficacy of A…

Novartis today announced that it will present 19 scientific abstracts at the 59th Annual Scientific Meeting of the American Headache Society (June 8-11, 2017, Boston, USA...

AstraZeneca enters agreement with Grünenthal to di…

AstraZeneca has entered an agreement with Grünenthal for the global rights to Zomig (zolmitriptan) outside Japan. Zomig is indicated for the acute treatment of migraines ...

Pfizer and Lilly receive FDA Fast Track designatio…

Pfizer Inc. (NYSE:PFE) and Eli Lilly and Company (NYSE:LLY) today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for tanezu...

Anyone can become more curious. Is that true?

Merck, a leading science and technology company, today announced the start of an experiment entitled "Anyone can become more curious". Driven by the company’s curiosity i...

Isolated Greek villages reveal genetic secrets tha…

A genetic variant that protects the heart against cardiovascular disease has been discovered by researchers at the Wellcome Trust Sanger Institute and their collaborators...

Pharmaceutical Companies

[ A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Z ]