(Alliance News) - AstraZeneca PLC on Monday said it completed the divestment of five hypertension drugs to Atnahs Pharma, receiving USD350 million upfront with contingent payments of up to another USD40 million possible.
The five drugs, for which Astra is divesting its global commercial rights, are Inderal, Tenormin, Tenoretic, Zestril, and Zestoretic.
The divestment was originally announced in late January. At which time Astra said the sale excludes the rights in the US and India, which have already been sold, as well as Japan, where Astra will keep commercial rights.
Astra has already received USD350 million upfront from Basildon-based Atnahs but could also receive another USD40 million in future sales-contingent payments between 2020 and 2022.
FTSE 100-listed pharmaceutical firm Astra said the upfront payment will be reported in its financial statements for first quarter of 2020 under "other operating income and expense".
Inderal, the brand name for beta-blocker propranolol, is used to treat angina, hypertension, tremors, arrythia, and other heart conditions.
Tenormin is the brand name for atenolol, a beta blocker which again treats angina and hypertension, as well as some arrhythmias. Tenormin is also used to redice the risk of death in patients who have had a heart attack. Tenoretic combines atenolol with a diuretic drug, chlorthalidone, and is used for high blood pressure.
Zestril is the brand name for lisinopril, another hypertension drug which can also treat conditions relating to diabetes and hypertensive renal disease. Zestoretic combines lisinopril with the diuretic hydrochlorothiazide, again to treat hypertension.
By Anna Farley; annafarley@alliancenews.com
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Astrazeneca (AZN)