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Aralez Pharmaceuticals acquires US rights to AstraZeneca's Toprol-XL.

M2 EQUITYBITES-November 2, 2016-Aralez Pharmaceuticals acquires US rights to AstraZeneca's Toprol-XL

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Ireland-based Aralez Pharmaceuticals Trading DAC (Aralez Ireland) has acquired the United States rights to English-Swedish-based AstraZeneca's generic high blood pressure drug, Toprol-XL, it was reported yesterday.

The product is an extended-release tablet that belongs to a family of high blood pressure medications named beta-blockers. It is indicated for control of hypertension, angina, and heart failure. According to the deal, both firms signed a supply agreement under which AstraZeneca will continue to produce and supply Toprol-XL and its authorised generic to Aralez Ireland for about ten years. The firm will also continue product distribution on behalf of Aralez Ireland until it is transferred.

Aralez Pharmaceuticals Trading DAC paid USD175m upfront at closing and has agreed to pay AstraZeneca an additional up to USD48m in payments related to achieving sales and other milestones. It also agreed to pay mid-teen percentage royalties on sales.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUIR
Date:Nov 2, 2016
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