AstraZeneca sells European rights for heart failure treatment for $210M

AstraZeneca has agreed to sell the European commercial rights to hypertension and heart failure meds Atacand (candesartan cilexetil) and Atacand Plus (candesartan cilexetil/hydrochlorothiazide) to Cheplapharm Arzneimittel GmbH.

AZN will continue to manufacture and supply the products under a supply agreement and will continue to commercialize both in all markets where it retains rights.

Under the terms of the agreement, AZN will receive $200M, a time-bound payment of $10M and sales-related milestones. The deal should close this quarter.

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