AstraZeneca is continuing to divest therapies no longer aligned with its core therapy areas by offloading the global commercial rights to several established hypertension medicines.
The UK’s Atnahs Pharma has acquired the global commercial rights to Inderal (propranolol), Tenormin (atenolol), Tenoretic (atenolol, chlorthalidone fixed-dose combination), Zestril (lisinopril) and Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination).
The agreement excludes the rights in the US and India – which were previously divested – and in Japan, which will be retained by AstraZeneca.
Atnahs will make an upfront payment of $350 million, with AstraZeneca lined up to potentially receive future sales-contingent payments of up to $40 million between 2020 and 2022.
The medicines, used primarily to treat hypertension, have lost their patent protection globally. In 2018, they generated annual sales of $132 million in the markets covered by this agreement.
“This transaction supports our strategy to realise value from our portfolio of non-core mature brands, enabling further investment in new medicines,” said Ruud Dobber, Executive Vice President of BioPharmaceuticals at AstraZeneca.
AstraZeneca will continue to manufacture and supply Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs during a transition period.
The divestment is expected to complete in the first quarter of 2020.