AstraZeneca in Pact with Recordati for Heart-Drug Seloken in Europe
May 22 2017 - 1:46AM
Dow Jones News
LONDON--AstraZeneca PLC (AZN.LN) has entered into an agreement
with Recordati S.p.A (REC.MI) for the commercial rights to
AstraZeneca's heart-failure drug Seloken/Seloken ZOK and associated
Logimax fixed-dose combination treatments in Europe.
AstraZeneca said Monday that Recordati will pay $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 said it will manufacture and supply the medicines to
Recordati under a supply agreement.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
May 22, 2017 02:31 ET (06:31 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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