AstraZeneca: to sell heart drug rights to Recordati.

(CercleFinance.com) - AstraZeneca has entered into an agreement with Italy's Recordati for the sale of the commercial rights to heart drug Seloken in Europe.


Under the terms of the deal, Recordati will pay AstraZeneca 300 million dollars upon completion of the agreement.

AstraZeneca will also receive sales-related income through royalties, initially as a double-digit percentage of sales, while still manufacturing and supplying the drugs to Recordati under a supply agreement.

Metoprolol - a beta-blocker for the control of hypertension, angina and heart failure - generated sales of 110 million dollars last year in Europe through the Seloken and Logimax brands.

The transaction is expected to be completed in the second quarter of 2017.

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