Aralez Pharmaceuticals finalizes purchase of Toprol-XL

Aralez Pharmaceuticals Trading DAC has finalized the purchase of the rights to Toprol-XL in the U.S. and Authorized Generic from AstraZeneca.
"We are pleased to announce the completion of the acquisition of the U.S. rights to Toprol-XL and its AG, which bolsters our position in the treatment of cardiovascular disease and significantly enhances our financial wherewithal with a more diversified revenue stream," Aralez CEO Adrian Adams said. "The strong cash flow from the transaction is expected to accelerate our profitability to 2017 on an adjusted basis, while also offsetting launch costs for both YOSPRALA and ZONTIVITY. As a result of our strengthened financial profile following this transaction, together with the recent launch of YOSPRALA and planned relaunch of ZONTIVITY in 2017, we believe that we are nicely positioned drive long-term organic growth."
According to the transaction, AstraZeneca will proceed with the manufacturing and supplying of Toprol-XL and the AG for the next decade and perhaps longer. The distribution will also continue to be handled by AstraZeneca until the product is transferred.
This process could last for up to nine months after the transitional service agreement has been finalized.