AstraZeneca jettisons European heart drug rights for $210m

AstraZeneca has announced its intention to hand over the European commercial rights to its heart failure and blood pressure treatment Atacand (candesartan) to German pharmaceutical firm Cheplapharm Arzneimittel for $210 million.

The move to jettison European marketing efforts the ageing drug is part of AZ’s ongoing focus to streamline its portfolio and free up investment opportunities for new drugs in its key therapeutic areas. Last year, the drug and its variation, Atacand Plus, generated $300 million in global sales, with $86 million drawn from European markets.

As part of the deal, the total sum will be paid by the Anglo-Swedish firm in the form of a $200 million payment on completion of the deal – expected to close in the third quarter of this year – as well as $10 million in milestone payments, contingent on market success.  

Though it will lose the rights to the drug in Europe, AZ will continue to market it in the US and other non-European markets, and will also continue to manufacture and provide the drug as part of supply agreements.

Matt Fellows