Atacand divestment to Cheplapharm in more than 70 countries completed
AstraZeneca has completed the divestment of commercial rights to Atacand (candesartan cilexetil) and Atacand Plus (a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) in over 70 countries to Cheplapharm Arzneimittel GmbH (Cheplapharm).
Financial considerations
Under the terms of the agreement AstraZeneca received a payment of $250m from Cheplapharm. AstraZeneca will receive further non-contingent payments equal to $150m during the first half of 2021. The present value of all payments, totalling $400m, will be reported in AstraZeneca’s financial statements within Other Operating Income in the fourth quarter of 2020.
Pursuant to London Stock Exchange listing rule 10.4.1R (notification of class 2 transactions), in 2019 Atacand and Atacand Plus generated product sales of $148m and profit before tax of $89m in the countries covered by the agreement. The gross book value of assets subject to the divestment at 31 December 2019 was $nil. The consideration was and will be paid in cash, and the proceeds used for general corporate purposes.