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BRIEF-Recordati acquires from AstraZeneca European rights to Metoprolol based products
May 22, 2017 / 6:15 AM / 6 months ago

BRIEF-Recordati acquires from AstraZeneca European rights to Metoprolol based products

May 22 (Reuters) - RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA:

* ACQUIRES FROM ASTRAZENECA EUROPEAN RIGHTS TO PRODUCTS BASED ON METOPROLOL

* THE CONSIDERATION FOR THE ACQUISITION OF THE ASSETS IS OF $ 300 MILLION (APPROX. € 270 MILLION) AND WILL BE FUNDED BY EXISTING LIQUIDITY AND AVAILABLE CREDIT LINES

* ROYALTIES FOR THE USE OF THE EXISTING PRODUCT BRANDS WILL BE DUE TO ASTRAZENECA FOR AN AGREED PERIOD

* METOPROLOL SUCCINATE IS A BETA‐BLOCKER FOR THE CONTROL OF HYPERTENSION, ANGINA AND HEART FAILURE

* EXISTING SALES OF THE METOPROLOL BRANDS WILL PROVIDE THE BASE TO ENTER NEW MARKETS AND COMPLETE EUROPEAN GEOGRAPHICAL FOOTPRINT Source text: reut.rs/2rJ7Mkc Further company coverage: (Gdynia Newsroom)

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