4th Jan 2021 08:38
(Alliance News) - AstraZeneca PLC on Monday said it has completed the divestment of commercial rights to Atacand and Atacand Plus in over 70 countries to Cheplapharm Arzneimittel GmbH.
The British-Swedish pharmaceutical company said it has received a payment of USD250 million from Cheplapharm. Under the terms of the agreement, Astra will also receive further non-contingent payments equal to USD150 million during the first half of 2021, it said.
The consideration was and will be paid in cash, and the proceeds used for general corporate purposes, the Cambridge, England-headquartered company noted.
In 2019 Atacand and Atacand Plus generated product sales of USD148 million, the company said, and pretax profit of UDS89 million in the countries covered by the agreement.
Astra shares were trading 1.7% higher in London on Monday at 7,447.00 pence each.
First doses of the drugmaker's Covid-19 vaccine, developed alongside Oxford University, are set to be administered in the UK.
Just over half a million doses of the newly approved vaccine will be available from Monday, with vulnerable groups already identified as the priority for immunisation. Jabs will be delivered at some 730 vaccination sites already established across the UK, with others opening this week to take the total to more than 1,000, according to the UK's Department of Health & Social Care.
By Evelina Grecenko; [email protected]
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