AstraZeneca to sell Moventig's European marketing rights to ProStrakan
AstraZeneca has agreed to sell the European marketing rights for the opioid-induced constipation (OIC) drug Moventig to ProStrakan, a unit of Japanese biopharmaceutical company Kyowa Hakko Kirin.
ProStrakan agreed to pay AstraZeneca $70m upfront for the rights in the European Union as well as Iceland, Norway, Switzerland, and Liechtenstein.
AstraZeneca will also receive future tiered royalties on net sales as part of the agreement.
The deal does not include the transfer of any AstraZeneca employees or facilities. The companies will jointly make the strategic decisions on Moventig in Europe.
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