AstraZeneca: sells rights on Nexium, Vimovo
(CercleFinance.com) - AstraZeneca has agreed to sell the rights to heartburn drug Nexium in Europe, as well as the global rights to anti-inflammatory drug Vimovo, excluding the US and Japan, to Germany's Grünenthal, the British drugmaker said on Tuesday.
For Nexium, Grünenthal will make an upfront payment of 700 million dollars upon completion, while Vimovo, it will pay 115 million dollars. AstraZeneca may also be entitled to future milestone and sales-related payments.
In a statement, AstraZeneca said both medicines are outside its three main therapy areas, i.e. oncology, cardiovascular, and renal & metabolism and respiratory.
Note that Nexium had lost patent protection in the majority of global markets, while Vimovo is patent-protected in most European markets until 2025.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
For Nexium, Grünenthal will make an upfront payment of 700 million dollars upon completion, while Vimovo, it will pay 115 million dollars. AstraZeneca may also be entitled to future milestone and sales-related payments.
In a statement, AstraZeneca said both medicines are outside its three main therapy areas, i.e. oncology, cardiovascular, and renal & metabolism and respiratory.
Note that Nexium had lost patent protection in the majority of global markets, while Vimovo is patent-protected in most European markets until 2025.
Copyright (c) 2018 CercleFinance.com. All rights reserved.