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AstraZeneca To Sell Rights To Hypertension Medicines To Atnahs Pharma

AstraZeneca (AZN.L,AZN) agreed to sell the global commercial rights to Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs Pharma. The medicines, used primarily to treat hypertension, have lost their patent protection globally.

AstraZeneca expects to complete the divestment in the first quarter of 2020.

Atnahs will make an upfront payment of $350 million to AstraZeneca. AstraZeneca may also receive future sales-contingent payments of up to $40 million between 2020 and 2022.

The agreement excludes the rights in the US and India, which were previously divested, and in Japan, which will be retained by AstraZeneca.

The company noted that it will continue to manufacture and supply Inderal, Tenormin, Tenoretic, Zestril and Zestoretic to Atnahs during a transition period.

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