StockMarketWire.com - AstraZeneca has entered into an agreement with Recordati for the commercial rights to Seloken/Seloken ZOK (metoprolol tartrate and metoprolol succinate respectively) and associated Logimax fixed-dose combination (metoprolol succinate and felodipine) treatments in Europe.

Metoprolol succinate is a beta-blocker for the control of hypertension, angina and heart failure.

Recordati will pay AstraZeneca $300 million upon completion of the agreement.

AstraZeneca will also receive sales-related income through tiered royalties, initially at a double-digit percentage of sales.

AstraZeneca will manufacture and supply the medicines to Recordati under a supply agreement.




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