AstraZeneca PLC (LON:AZN) is to sell the European rights to heart drugs Atacand and Atacand Plus for an initial US$200mln.
It will receive a further US$10mln from buyer Cheplapharm, which will also make further “sales-contingent” milestone payments.
The deal is part of AZ’s push to streamline its roster of mature products.
“Cheplapharm's strong European presence will help expand the commercial potential of Atacand," said Mark Mallon, AZ’s head of product and portfolio strategy.
Last year the drug, which is used to treat heart failure and hypertension, generated global sales of US$200mln, of which US$86mln came from Europe.