In addition, the deal includes the payment of royalties on the existing product brands for AstraZeneca for an agreed period.
Metoprolol succinate is a beta-blocker, which can control hypertension, angina and heart failure.
It can be used to control a range of conditions such as hypertension, angina pectoris, disturbances of cardiac rhythm, maintenance treatment after myocardial infarction, and functional heart disorders with palpitations.
Seloken is marketed in the European markets under different brand names such as Seloken, Seloken ZOK (extended release), Selo-Sok and Betaloc ZOK.
Logimax is the fixed-dose combination of metoprolol succinate with felodipine, which is indicated for the control of hypertension.
Subject to customary conditions and regulatory clearances, the deal is expected to complete in the following weeks.
AstraZeneca global product and portfolio strategy executive vice president Mark Mallon said: “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.”
Recordati vice chairman and CEO Andrea Recordati said: “Metoprolol is a widely used drug in all European countries and the market position achieved by the AstraZeneca brands will enable us to reinforce our product portfolios in a number of our European subsidiaries, in particular in Poland, France and Germany.
“Furthermore, existing sales of the metoprolol brands will provide the base to enter new markets and thus complete our European geographical footprint.
Image: AstraZeneca global product and portfolio strategy executive vice president Mark Mallon. Photo: courtesy of AstraZeneca.