AstraZeneca have announced its plans to divest the rights of Crestor (rosuvastatin) in Europe, where Grünenthal will make an upfront, non-contingent payment to AstraZeneca of $320 million and may also make future milestone payments of up to $30 million.
AstraZeneca has agreed to sell the rights to Crestor and associated medicines in more than 30 countries in Europe, except the UK and Spain, to Grünenthal. Crestor is a statin approved for the treatment of dyslipidaemia and hypercholesterolaemia.
"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 of AstraZeneca's 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."
AstraZeneca will continue to manufacture and supply Crestor to Grünenthal during a transition period. AstraZeneca will also continue selling the medicine in other countries, including those in North America, in Japan, China and other emerging markets.
Read the AstraZeneca statement