Biopharmaceutical company AstraZeneca plc (STO:AZN) (LON:AZN) (Nasdaq:AZN) confirmed on Wednesday that it has completed the divestment of the rights to Crestor (rosuvastatin) and associated medicines in over 30 countries in Europe, not including the UK and Spain.
Crestor is a statin used to treat blood lipid disorders and to prevent cardiovascular events, such as heart attacks and strokes. It is approved as a lipid regulating medicine in more than 100 countries.
German pharmaceutical company Grünenthal GmbH paid USD320m for the rights and may also make future milestone payments of up to USD30m.
In 2019, Crestor generated product sales of USD136m and profit before tax of USD98m in the countries covered by the agreement.
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