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

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

AstraZeneca to Divests 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

Tuba Khan

Tuba Khan is an Editor and Digital Marketing expert at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in Lifesciences industry. She covers Pharma, Medical devices, Diagnostics and Digital health segment. Tuba also has an experience of digital and social media marketing and can run the campaign independently. She is also certified as a Digital marketer and social media marketer. She can be contacted on tuba@pharmashots.com

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