AstraZeneca: sells painkiller rights to Germany's Grünenthal

(CercleFinance.com) - AstraZeneca has entered into an agreement with Germany group Grünenthal to sell the global rights to Zomig, a treatment for migraines and headaches, outside Japan.


Under the deal's terms, Grünenthal will pay AstraZeneca 200 million dollars upon completion and up to an additional 102 million dollars 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.

Impax will continue to market Zomig in the US. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period.

AstraZeneca said Zomig belongs to an area of medicine "outside the company's strategic focus."

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