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AstraZeneca completes sale of rights of cardiovascular drug in Europe to Grunenthal
StockMarketWire.com
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Pharmaceutical giant AstraZeneca said it had completed the sale of the rights to its cardiovascular drug Crestor and associated medicines in over 30 countries in Europe to Grunenthal.
Under the terms of the agreement, AstraZeneca received a payment of $320 million from Grunenthal and may also be eligible for future milestone payments of up to $30 million.
The upfront payment would be reported in AstraZeneca's financial statements within other operating income and expense in the first quarter of 2021, the company said.
The rights for the drug in the UK and Spain were not included in the agreement, it added.
At 8:20am: (LON:AZN) Astrazeneca PLC share price was 0p at 8633p
Story provided by StockMarketWire.com
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