ASTRAZENECA COMPLETES AGREEMENT WITH RECORDATI FOR SELOKEN IN EUROPE

3 July 2017 07:00 BST


AstraZeneca announced today that it has completed* the previously-communicated agreement with Recordati S.p.A (Recordati) for the commercial rights to Seloken / Seloken ZOK (metoprolol tartrate and metoprolol succinate, respectively) and associated Logimax fixed-dose combination (metoprolol succinate and felodipine) medicines in Europe. Metoprolol succinate is a beta-blocker for the control of hypertension, angina and heart failure.

Based on the limited level of ongoing interest that AstraZeneca will retain in the medicines in Europe, the upfront and tiered royalty payments received from Recordati will be reported as Other Operating Income in the Company's financial statements. An upfront payment of $290 million will be accounted for in the second quarter of 2017.

* With the exception of Romania, which is subject to separate closing.

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AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009. For more information please visit: www.astrazeneca.com

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