AZ completes US Aralez agreement for Toprol-XL
31 October 2016 13:45
ASTRAZENECA COMPLETES AGREEMENT WITH ARALEZ
FOR BETA-BLOCKER MEDICINE TOPROL-XL IN THE US
AstraZeneca today announced the completion of its agreement with Aralez Pharmaceuticals Trading DAC, a subsidiary of Aralez Pharmaceuticals Inc., for the rights to branded and authorised generic Toprol-XL (metoprolol succinate) in the US. Toprol-XL is a beta-blocker medicine for the control of hypertension (high blood pressure), angina (chest pain) and heart failure, first approved in the US in 1992.
Under the agreement, AstraZeneca has received $175 million for the rights to Toprol-XL tablets in the US, and the authorised generic medicine marketed by Par Pharmaceuticals. Aralez will also pay AstraZeneca up to $48 million in milestone and sales-related payments, as well as mid-teen percentage royalties on sales. As AstraZeneca will retain an ongoing interest in Toprol-XL in the US through the ongoing milestones, royalties and product supply, these payments will be reported as Externalisation Revenue in the Company's financial statements.
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.
|Neil Burrows||UK/Global||+44 203 749 5637|
|Vanessa Rhodes||UK/Global||+44 203 749 5736|
|Karen Birmingham||UK/Global||+44 203 749 5634|
|Rob Skelding||UK/Global||+44 203 749 5821|
|Jacob Lund||Sweden||+46 8 553 260 20|
|Michele Meixell||US||+1 302 885 2677|
|Thomas Kudsk Larsen||+44 203 749 5712|
|Craig Marks||Finance, Fixed Income, M&A||+44 7881 615 764|
|Henry Wheeler||Oncology||+44 203 749 5797|
|Mitchell Chan||Oncology||+1 240 477 3771|
|Lindsey Trickett||Cardiovascular & Metabolic Diseases||+1 240 543 7970|
|Nick Stone||Respiratory||+44 203 749 5716|
|Christer Gruvris||Autoimmunity, neuroscience & infection||+44 203 749 5711|
|US toll free||+1 866 381 7277|
Company Secretary, AstraZeneca PLC