AstraZeneca in agreement with Recordati S.p.A for certain commercial rights

AstraZeneca has entered into an agreement with Recordati S.p.A for the commercial rights to Seloken/Seloken ZOK (metoprolol tartrate and metoprolol succinate respectively) and associated Logimax fixed-dose combination (metoprolol succinate and felodipine) treatments in Europe.

Metoprolol succinate is a beta-blocker for the control of hypertension, angina and heart failure, the company explained in its press release on Monday.

According to the agreement, Recordati will pay AstraZeneca $300 million upon completion of the agreement. AstraZeneca will also receive sales-related income through tiered royalties, initially at a double-digit percentage of sales. AstraZeneca will manufacture and supply the medicines to Recordati under a supply agreement.

Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca, said: “This agreement allows us to concentrate our resources on bringing multiple new medicines to patients. Recordati’s expertise in cardiovascular disease and established European salesforce will help to expand the commercial potential of the Seloken brands, which are mature medicines for the new AstraZeneca.”