AstraZeneca has announced that it is divesting the global rights to the migraine therapy Zomig to fellow pharmaceutical company Grunenthal.
The deal will see Grunenthal pay AstraZeneca an initial fee of $200 million (154.38 million pounds) to acquire rights to Zomig in all markets outside Japan. This includes the US, where the rights were previously licensed to Impax Pharmaceuticals, which will continue to market the drug in this region.
“AstraZeneca has agreed to sell off its migraine treatment Zomig to Grunenthal for an initial fee of $200 million.“
AstraZeneca will carry on manufacturing and supplying the medicine to Grunenthal during a transition period, and will be eligible to receive up to an additional $102 million in future milestone payments.
The company has agreed to the sale because the treatment of migraines and cluster headaches is now considered to be outside AstraZeneca's main strategic focus.
Mark Mallon, executive vice-president for global product and portfolio strategy at AstraZeneca, said: "Grunenthal is an established partner with expertise in the treatment of pain. It is well placed to ensure patients continue to benefit from Zomig, and to extend the commercial potential of the medicine through its dedicated salesforce."
Grunenthal boss Gabriel Baertschi added that this deal will support his company's strategic objectives by filling an important gap in its existing pain portfolio.
With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.See all the latest jobs in Pharmaceutical