AstraZeneca agrees with CMS for rights to Plendil and Imdur

AstraZeneca announced this week that it has agreed to the terms of a licensing agreement with China Medical System Holdings Ltd. (CMS) that will give CMS commercialization rights for Plendil (felodipine) in China.

Plendil is a calcium channel blocker that was first approved in 1995 in China to treat hypertension and high blood pressure. The product reached sales of $189 million in 2015.

The agreement states that CMS must pay $310 million to AstraZeneca for licensure to sell Plendil in China. AstraZeneca will remain responsible for the manufacturing and supplying of the drug to CMS and will also keep worldwide rights to Plendil outside of China. The deal will not involve any AstraZeneca employees or facilities being transferred to China.

AstraZeneca has also agreed to the divestment of the worldwide rights of Imdur outside of the United States to CMS and its associate Tibet Rhodiola Pharmaceutical Holding Co. Imdur is designed to prevent angina in heart disease patients. Last year, Imdur’s sales were $57 million outside of the United States. According to the agreement, AstraZeneca will be paid $190 million for the rights to Imdur. This includes all markets outside of the U.S.