Aralez completes acquisition of U.S. rights to Toprol-XL, authorized generic

MISSISSAUGA, Ontario — Specialty pharmacy company Aralez Pharmaceuticals on Monday announced the completion of its acquisition of the U.S. rights to AstraZeneca’s extended-release beta blocker, Toprol-XL (metoprolol succinate) and its authorized generic. Aralez paid $175 million at closing. 

 

Under the agreement, AstraZeneca will continue to manufacture and supply the drug and its authorized generic to Aralez Ireland for at least 10 years, and it will continue to distribute the product until it is transferred, which could be up to nine months after closing. 

 

"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."