Grünenthal buys AstraZeneca’s migraines drug

AstraZeneca has signed an agreement with Grünenthal for the global rights to Zomig (zolmitriptan), the drug indicated for the acute treatment of migraines and cluster headaches, outside Japan.

AstraZeneca said in its press release that Grünenthal will pay it $200 million upon completion. AstraZeneca will also receive up to an additional $102 million in future milestone payments. Grünenthal will acquire the rights to Zomig in all markets outside Japan, including the US, where the rights were previously licensed to Impax Pharmaceuticals (Impax). Impax will continue to market Zomig in the US. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period.

Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca said: “Grünenthal 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.”

Gabriel Baertschi, CEO of Grünenthal said: “Migraine is a very debilitating disease with more than 75 million people worldwide suffering from attacks that can lead to sensitivity to light or sound, to nausea or even vomiting. The acquisition of the well-established Zomig products complements our existing pain portfolio.”

Baertsch also said that this is an important step to reach company’s ambition to become a €2 billion company by 2022.

In 2016, revenues from Zomig outside Japan were $96 million, including Product Sales and Externalisation Revenue. The transaction is expected to complete in the second quarter of 2017, subject to customary closing conditions and regulatory clearances. The net consideration from the agreement will be reported as Other Operating Income in the company’s financial statements. The agreement does not impact the company’s financial guidance for 2017, the company concluded.