AZ sells rights to statin med Crestor to Grünenthal

AstraZeneca (AZ) has announced that it will sell the rights to statin medication Crestor to Grünenthal in over 30 European countries.

Crestor (rosuvastatin) is indicated for the treatment of dyslipidaemia and hypercholesterolaemia and is used to prevent cardiovascular disease in these high-risk populations.

This medication is used to treat abnormal lipids in two ways – by blocking an enzyme in the liver and causing the liver to make less cholesterol, and by increasing the uptake and breakdown by the liver of cholesterol in the blood.

Grünenthal will make an upfront payment to AZ of $320m for the rights and may also make future milestone payments of up to $30m.

In 2019, Crestor generated sales of $136m and profit before tax of $98m in the countries covered by the divesture agreement.

“This agreement supports the management of our mature medicines to enable reinvestment into the pipeline and bringing new, innovative treatments to patients,” said Ruud Dobber, executive vice president, BioPharmaceuticals Business Unit.

“Grünenthal previously acquired the rights to several established AstraZeneca medicines and is well placed to ensure continued access to Crestor for patients across Europe,” he added.

AZ will continue to manufacture and supply Crestor to Grünenthal throughout the transition period, and will also continue to sell the drug in other countries.

This includes North America, Japan, China and other emerging markets.

1st December 2020

http://www.pharmatimes.com/