AstraZeneca to Divest Global Rights of Movantik (naloxegol) to RedHill Biopharma

Shots:

• AstraZeneca to receive $52.5M up front and a non-contingent payment of $15M in 2021 while RedHill to get global rights of Movantik (Ex- EU, Canada and Israel). The divestiture allows AstraZeneca to focus on main therapy areas and is expected to be completed in Q1’20
• AstraZeneca will transfer it 2015 co-commercialization agreement with Daiichi Sankyo for Movantik to RedHill and will continue to manufacture & supply the therapy during a transition period
• Movantik (qd, PO) is a PAMORA developed utilizing Nektar’s oral small molecule polymer conjugate technology and is FDA approved therapy to treat OIC in patients with chronic non-cancer pain. In 2016, AstraZeneca divested Movantik’s rights in EU to ProStrakan Group (now KKI) and in Canada & Israel to Knight Therapeutics

Click here ­to­ read full press release/ article | Ref: AstraZeneca  | Image: StraitTimes