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.
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.
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