Under the deal, Atnahs will purchase global commercial rights related to AstraZeneca’s Inderal (propranolol), Tenormin (atenolol), Tenoretic (atenolol, chlorthalidone fixed-dose combination), Zestril (lisinopril) and Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination).
The deal excludes the rights in the US and India, which have been earlier divested. In Japan, AstraZeneca will retain the rights related to hypertension medicines.
The patent protection has been lost for the divested medicines across the globe.
AstraZeneca will continue to produce and distribute Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs during a transition period.
As per terms of the agreement, AstraZeneca will secure an upfront payment of $350m from Atnahs.
AstraZeneca is also eligible to secure future sales-contingent payments of up to $40m between 2020 and 2022.
The divested hypertension medicines reported annual sales of $132m in the markets covered under the deal.
Subject to customary closing conditions and regulatory clearances, the deal is expected to complete in the first quarter of 2020.
Inderal is a beta-blocker that is used to treat tremors, angina, hypertension, arrhythmias, and other heart or circulatory conditions.
Tenormin is also a beta-blocker used to treat angina and hypertension, as well as certain kinds of arrhythmias.
Tenoretic, a fixed dose combination of atenolol atenolol (beta-blocker) and chlorthalidone (diuretic), is designed to treat high blood pressure.
Zestril, an angiotensin-converting enzyme (ACE) inhibitor, is designed to treat hypertension, congestive heart failure, diabetic related conditions and hypertensive renal disease.
Zestoretic, a fixed dose combination of lisinopril (ACE inhibitor) and hydrochlorothiazide (diuretic), is used to treat hypertension.
In December 2019, AstraZeneca signed a deal worth up to $41m to divest the US and Canada commercial rights to Seroquel (quetiapine fumarate immediate release) and Seroquel XR (quetiapine fumarate extended release) to German pharma company Cheplapharm Arzneimittel.
AstraZeneca is a science-led biopharmaceutical firm that focuses on the discovery, development and commercialisation of prescription medicines.