In February 2016, AstraZeneca entered into a licensing agreement with China Medical System Holdings Ltd. (CMS) for the commercialisation rights to the calcium channel blocker, felodipine (Plendil), in China.
Plendil was first approved in China in 1995 for the treatment of hypertension or high blood pressure.
Under the terms of the agreement, CMS paid AstraZeneca $310 million for the license to sell Plendil in China. AstraZeneca maintains a significant, long term interest in the future value derived from Plendil sales in China and manufactures and supplies the medicine to CMS. AstraZeneca retains the global rights to Plendil outside China.
Hypertension is quite predominant in China. The incidents of patients increases year on year and Plendil is a well-established brand coming from a very reputable company. We can use our salesforce to deliver this drug to a wide spectrum of the patient population.
This agreement allows us to ensure continued access and growth of the medicine in China, while freeing up resource from our mature brands to invest in our innovative portfolio in our three main therapy areas.