AstraZeneca sells EU rights to Seloken and Logimax brands to Recordati

AstraZeneca has agreed to sell the European commercial rights to the heart medicines Seloken and Logimax to Recordati.

Rights to the Seloken, Seloken ZOK and associated Logimax fixed-dose combination therapies will be purchased by Recordati for a fee of $300 million (230.87 million pounds), with AstraZeneca also set to receive sales-related income through tiered royalties, initially at a double-digit percentage of sales.

AstraZeneca – which will continue to manufacture and supply the medicines to Recordati under a supply agreement – has sold off these rights in order to dedicate more resources to bringing newer medicines to market.

Mark Mallon, executive vice-president for global product and portfolio strategy at AstraZeneca, 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."

These therapies are based on metoprolol succinate, a beta-blocker approved for the control of hypertension, angina and heart failure.

Product sales for the Seloken brands and Logimax reached $110 million in Europe in 2016. AstraZeneca will continue to commercialise the medicines in all other markets where it holds the rights.

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