Date: 2017-06-07
Type of information: Product acquisition
Compound: Zomig®
Company: AstraZeneca (UK) Grunenthal (Germany)
Therapeutic area: CNS diseases - Neurological diseases
Type agreement: product acquisition
Action mechanism: selective serotonin agonist.
Disease: migraines, cluster headaches
Details:
- • On June 7, 2017, AstraZeneca announced that it has entered an agreement with Grünenthal for the global rights to Zomig® (zolmitriptan) outside Japan. Zomig® is indicated for the acute treatment of migraines and cluster headaches, an area of medicine outside AstraZeneca’s strategic focus.
- In 2016, revenues from Zomig outside Japan were $96 million, including Product Sales and Externalisation Revenue. The transaction is expected to complete in the second quarter of 2017, subject to customary closing conditions and regulatory clearances.
Financial terms:
- Grünenthal will pay AstraZeneca $200 million upon completion. AstraZeneca will also receive up to an additional $102 million in future milestone payments. Grünenthal will acquire the rights to Zomig® in all markets outside Japan, including the US, where the rights were previously licensed to Impax Pharmaceuticals (Impax). Impax will continue to market Zomig® in the US. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period.
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