Aralez Completes Toprol-XL and Generic Acquisitions from AstraZenecaBy
Aralez Pharmaceuticals, a specialty pharmaceutical company headquartered in Mississauga, Ontario, Canada, has completed its acquisition of the US rights to Toprol-XL (metoprolol succinate) and its authorized generic, which are used to treat high blood pressure, from AstraZeneca with an upfront payment of $175 million upon closing. The acquisition was completed through Aralez’s subsidiary, Aralez Pharmaceuticals Trading DAC (Aralez Ireland).
In connection with the transaction, Aralez and AstraZeneca have entered into a supply agreement under which AstraZeneca will continue to manufacture and supply Toprol-XL and the authorized generic to Aralez Ireland for at least 10 years. AstraZeneca will also continue to distribute the product on behalf of Aralez Ireland until the product is transferred, which could be up to nine months following the closing under a transitional services agreement.
Toprol-XL is an extended-release tablet that belongs to a family of high blood pressure medications known as beta-blockers. It is approved for treat high blood pressure and is indicated for long-term treatment of angina pectoris, to reduce angina attacks and to improve exercise tolerance, and for the treatment of stable, symptomatic (NYHA Class II or III) heart failure of ischemic, hypertensive, or cardiomyopathic origin. Toprol-XL is supplied as 25-mg, 50-mg, 100-mg and 200-mg tablets.
Source: Aralez Pharmaceuticals