Germany's Cheplapharm pays AstraZeneca $200m for Atacand rights

AstraZeneca said it had agreed a $200m deal with Germany's Cheplapharm Arzneimittel for the European commercial rights to Atacand and Atacand Plus heart and hypertension treatments.

AstraZeneca said in addition to the upfront cash, it would receive a time-bound payment of $10m and further income based on sales-contingent milestones.

The present value of the upfront and time-bound payments will be reported as “other operating income” in the company's financial statements in the third quarter of 2018, AstraZeneca said.

AstraZeneca will continue to manufacture and supply Atacand and Atacand Plus under a supply agreement and will continue to commercialise the medicines in all markets where it still holds the rights.