AstraZeneca completes agreement with Recordati for Seloken in Europe

Regulatory News Service

3 July 2017 07:00 BST

AstraZeneca announced today that it has completed* the previously-communicated agreement with Recordati S.p.A (Recordati) for the commercial rights to Seloken/Seloken ZOK (metoprolol tartrate and metoprolol succinate, respectively) and associated Logimax fixed-dose combination (metoprolol succinate and felodipine) medicines in Europe. Metoprolol succinate is a beta-blocker for the control of hypertension, angina and heart failure.

Based on the limited level of ongoing interest that AstraZeneca will retain in the medicines in Europe, the upfront and tiered royalty payments received from Recordati will be reported as Other Operating Income in the Company’s financial statements. An upfront payment of $290 million will be accounted for in the second quarter of 2017.

*With the exception of Romania, which is subject to separate closing.

About AstraZeneca

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