AstraZeneca sells China commercialization rights for Plendil to CMS

29 February 2016

AstraZeneca (LSE: AZN) has entered into a licensing agreement with China Medical System Holdings (CMS) for the commercialization rights in China to its calcium channel blocker, Plendil (felodipine)

The drug, which was first approved in China in 1995 for the treatment of hypertension or high blood pressure, achieved sales of $189 million in 2015.

Under the terms of the agreement, CMS will pay Anglo-Swedish pharma major AstraZeneca $310 million for the license to sell Plendilin China. AstraZeneca will maintain a significant, long term interest in the future value derived from Plendil sales in China and will manufacture and supply the medicine to CMS. AstraZeneca will retain the global rights to Plendil outside China. The transaction does not include the transfer of any AstraZeneca employees or facilities.

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