AstraZeneca sells its European rights to Atacand and Atacand Plus to Cheplapharm Arzneimittel GmbH.

AstraZeneca has agreed to sell the commercial rights to Atacand (candesartan cilexetil) and Atacand Plus (fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) in Europe to Cheplapharm Arzneimittel GmbH (Cheplapharm). Atacand is a prescription medicine for the treatment of heart failure and hypertension.The agreement is expected to complete in the third quarter of 2018. AstraZeneca will continue to manufacture and supply Atacand and Atacand Plus under a supply agreement and will continue to commercialise the medicines in all markets where it still holds the rights.

Cheplapharm will pay AstraZeneca $200 million on completion of the agreement, plus a time-bound payment of $10 million and sales-contingent milestones. The upfront and time-bound payments are expected to be reported in the Company’s financial statements in 2018. All income is expected to be reported as Other Operating Income. In 2017, global Product Sales for Atacand and Atacand Plus were $300 million, including $86 million in Europe. The agreement does not impact the Company’s financial guidance for FY 2018.