Recordati pays $300 million for European rights to beta-blocker from AstraZeneca
Italian drugmaker Recordati (RECI: MI) has agreed to acquire the rights to Seloken/Seloken ZOK (metoprolol succinate) and associated Logimax fixed dose combination (metoprolol succinate and felodipine) treatments in Europe from Anglo-Swedish pharma major AstraZeneca (LSE: AZN).
Recordati will pay $300 million along with royalties for the use of the existing product brands to AstraZeneca for an agreed period.
"Sales of the metoprolol brands will provide the base to enter new markets and thus complete our European geographical footprint"
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