AstraZeneca Sells Hypertension Drugs in $350 Million Deal
AstraZeneca (NYSE: AZN) has closed a deal to divest itself of a set of hypertension drugs. The buyer will be fellow U.K.-headquartered pharmaceutical company Atnahs. AstraZeneca received a $350 million upfront payment for the five medications, and is eligible for up to $40 million more between now and 2022 if certain sales milestones are met; it did not specify those milestones.
The deal, originally agreed to at the end of January, transfers most of the global commercial rights to the drugs Inderal, Tenormin, Tenoretic, Zestril, and Zestoretic. The arrangement does not cover China, India, Japan, or the U.S. The India and U.S. rights were previously sold, while the company will maintain its rights to the Japanese market.
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Source Fool.com
