ASTRAZENECA COMPLETES DIVESTMENT AGREEMENT WITH GRÜNENTHAL FOR MIGRAINE TREATMENT ZOMIG
3 July 2017 07:00 BST
AstraZeneca announced today that it has completed the previously-announced agreement with Grünenthal for the global rights to Zomig (zolmitriptan) outside Japan. Zomig is indicated for the acute treatment of migraines and cluster headaches, an area of medicine outside AstraZeneca's strategic focus.
The net consideration from the upfront payment received from Grünenthal will be reported as Other Operating Income in the Company's financial statements in the second quarter of 2017. Under the terms of the agreement, AstraZeneca will also receive additional future milestone payments and will continue to manufacture and supply the medicine to Grünenthal during a transition period.
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.com and follow us on Twitter @AstraZeneca.
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