AstraZeneca divests hypertension medicines

RNS Number : 9329A

AstraZeneca PLC

27 January 2020

 

27 January 2020 07:00 GMT

AstraZeneca divests rights to established hypertension medicines

Sale of Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs Pharma
supports AstraZeneca's strategy of focusing on pipeline of new medicines

AstraZeneca has agreed to sell the global commercial rights to Inderal (propranolol), Tenormin (atenolol), Tenoretic (atenolol, chlorthalidone fixed-dose combination), Zestril (lisinopril) and Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination) to Atnahs Pharma (Atnahs).

The agreement excludes the rights in the US and India, which were previously divested, and in Japan, which will be retained by AstraZeneca. The medicines, used primarily to treat hypertension, have lost their patent protection globally.

Ruud Dobber, Executive Vice President, BioPharmaceuticals, said: "These are important established medicines, and the divestment to Atnahs ensures they will continue to be available to patients. This transaction supports our strategy to realise value from our portfolio of non-core mature brands, enabling further investment in new medicines."

AstraZeneca will continue to manufacture and supply Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs during a transition period.

Financial considerations

Atnahs will make an upfront payment of $350m to AstraZeneca. AstraZeneca may also receive future sales-contingent payments of up to $40m between 2020 and 2022. Income arising from the upfront and future payments will be reported in AstraZeneca's financial statements within Other Operating Income & Expense.

In 2018, Inderal, Tenormin, Tenoretic, Zestril and Zestoretic generated annual sales of $132m in the markets covered by this agreement. The divestment is expected to complete in the first quarter of 2020, subject to customary closing conditions and regulatory clearances. 

Inderal

Inderal (propranolol) is a beta-blocker and is predominantly used to treat tremors, angina, hypertension, arrhythmias, and other heart or circulatory conditions. It is also used to reduce the severity and frequency of migraine.

Tenormin and Tenoretic

Tenormin (atenolol) is a beta-blocker that is used to treat angina and hypertension, as well as certain kinds of arrhythmias. It is also used to lower the risk of death after a heart attack. Tenoretic is a fixed dose combination of atenolol (beta-blocker) and chlorthalidone (diuretic), used to treat high blood pressure.

Zestril and Zestoretic

Zestril (lisinopril) is an angiotensin-converting enzyme (ACE) inhibitor used to treat hypertension, congestive heart failure, diabetic related conditions and hypertensive renal disease. Zestril may also be used to improve survival after a heart attack. Zestoretic is a fixed dose combination of lisinopril (ACE inhibitor) and hydrochlorothiazide (diuretic) used to treat hypertension.

AstraZeneca

AstraZeneca (LSE/STO/NYSE: AZN) 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 therapy areas - Oncology, Cardiovascular, Renal and Metabolism, and Respiratory. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.

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