Aralez Pharmaceuticals has reached an agreement to acquire the rights to Toprol-XL in the United States as well as its Authorized Generic (AG) from AstraZeneca.
"We are delighted to enter into an agreement with AstraZeneca for the U.S. rights to Toprol-XL and its AG, a beta blocker that further broadens our cardiovascular portfolio and, importantly, strengthens our financial profile by generating meaningful cash, which should accelerate our profitability to 2017 on an adjusted basis in addition to offsetting launch costs for YOSPRALA and ZONTIVITY," Aralez CEO Adrian Adams said.
Adams said the transaction further reflects Aralez's ability to deliver against the expectations that included promoting FIBRICOR and receiving approval for the commercialization of YOSPRALA, He also believes Aralez will expand distribution through aggressive business development and licensing, as evidenced by its recent acquisition of ZONTIVITY and now Toprol-XL.
Toprol-XL, a cardioselective beta-blocker, was developed to treat hypertension as a stand-alone medication or as part of a combination with other antihypertensives. Toprol-XL has been approved in the U.S. since 1992.
In 2015, AstraZeneca made $89 million from sales of the medication. It has accrued $53 million from Jan. 1 through June 30 of 2016.