AstraZeneca Divests Rights of Migraine Drug to Grünenthal

AstraZeneca has entered into an agreement with Grünenthal for the global rights of its migraine drug Zomig (zolmitriptan) outside Japan. Grünenthal will acquire the rights to Zomig in all markets outside Japan, including the United States, where the rights were previously licensed to Impax Pharmaceuticals (Impax). Impax will continue to market Zomig in the US.

Grünenthal will pay AstraZeneca $200 million upon completion of the deal. AstraZeneca will also receive up to an additional $102 million in future milestone payments. During the transition period, AstraZeneca will continue to manufacture and supply the medicine to Grünenthal. The transaction is expected to complete in the second quarter of 2017, subject to customary closing conditions and regulatory clearances.

Revenues from Zomig outside Japan were $96 million in 2016, including product sales and externalization revenue.