Date: 2017-07-03
Type of information: Product acquisition
Compound: Seloken®/Seloken® ZOK (metoprolol succinate) and associated
Logimax® fixed dose combination (metoprolol succinate and felodipine) treatments
Company: AstraZeneca (UK) Recordati (Italy)
Therapeutic area: Cardiovascular diseases
Type agreement: product acquisition
Action mechanism: Beta-blocker
Disease: hypertension, angina, heart failure
Details:
- • On July 3, 2017, Recordati announced the successful conclusion* of the agreement with AstraZeneca
for the acquisition of the rights to Seloken®/Seloken® ZOK (metoprolol succinate) and associated Logimax® fixed dose combination (metoprolol succinate and felodipine) treatments in Europe. The consideration for the acquisition of the assets of $ 290 million (€ 258 million) was paid at the closing.
Metoprolol is a widely used drug in all European countries and the market position achieved by the AstraZeneca brands will enable Recordati to reinforce its product portfolios in a number of European countries, in particular in Poland, France and Germany. Furthermore, existing sales of the metoprolol
brands will provide the base to enter new markets and thus complete the group’s European geographical
footprint.
- • On May 22, 2017, Recordati announced that it has entered into an agreement with AstraZeneca for the acquisition of the rights to Seloken®/Seloken® ZOK (metoprolol succinat) and associated Logimax® fixed dose combination (metoprolol succinate and felodipine) treatments in Europe. The closing of the transaction is subject to customary conditions andregulatory clearances and is expected to take place in the following weeks. In addition, royalties for the
use of the existing product brands will be due to AstraZeneca for an agreed period.
Financial terms: The consideration for the acquisition of the assets is of $ 300 million (approx. € 270 million) and will be funded by existing liquidity and available credit lines.
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