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AstraZeneca PLC (AZN)

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Monday 03 December, 2018

AstraZeneca PLC

Gr�nenthal Agreement for Nexium, Vimovo Completed

RNS Number : 1354J
AstraZeneca PLC
03 December 2018
 

3 December 2018 07:00 GMT

 

Agreement with Grünenthal for rights to Nexium in
Europe and Vimovo worldwide (ex-US) completed

 

AstraZeneca has completed an agreement to divest the prescription medicine rights to Nexium (esomeprazole) in Europe, as well as the global rights (excluding the US and Japan) to Vimovo (naproxen/esomeprazole) to Grünenthal.

 

Under the terms of the agreement, AstraZeneca has received payments of $700m for Nexium and $115m for Vimovo from Grünenthal. The upfront payments, net of an appropriate derecognition of an intangible asset related to Vimovo (see below) will be reported within Other Operating Income & Expense in the Company's financial statements in the fourth quarter of 2018.

 

AstraZeneca will continue to commercialise Nexium in all markets outside Europe, where the Company retains the rights. AstraZeneca will not retain any ownership rights to Vimovo globally.

 

Pursuant to Listing Rule 10.4.1R (notification of class 2 transactions), the book value of gross assets subject to the divestments was approximately $99 million at 31 December 2017. In the year to 31 December 2017 the aggregate pre-tax profits attributable to Nexium and Vimovo in the relevant territories were $203 million. The consideration will be satisfied in cash and the proceeds used for general corporate purposes.

 

About Nexium

Nexium (esomeprazole) is used to treat gastroesophageal reflux disease, ulcers, and Zollinger-Ellison syndrome. It is also used for the prevention and treatment of gastric ulcers induced by pain-relieving NSAIDs. Nexium is available in several formulations (Nexium gastro-resistant granules for oral suspension, Nexium gastro-resistant Multi-Unit Pellet System (Nexium MUPS) tablets, and Nexium injection/infusion) with varying approved indications. The rights to over-the-counter Nexium were externalised to Pfizer Consumer Health in 2012.

 

About Vimovo

Vimovo (naproxen/esomeprazole) modified-release tablet is a fixed-dose combination of naproxen, a pain-relieving NSAID and esomeprazole, the active ingredient in Nexium. It is indicated for the symptomatic treatment of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis in patients who are at risk of developing NSAID-associated gastric ulcers and/or duodenal ulcers and where treatment with lower doses of naproxen or of other NSAIDs is not considered sufficient. The rights to Vimovo in the United States were externalised to Horizon Pharma in 2013.

 

About AstraZeneca

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 therapy areas - Oncology, Cardiovascular, Renal & Metabolism and Respiratory. 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.

 

Media Relations

 

 

Karen Birmingham

UK/Global

+44 203 749 5634

Rob Skelding

UK/Global

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Matt Kent

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Gonzalo Viña

UK/Global

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Jennifer Hursit

UK/Global

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Jacob Lund

Sweden

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Michele Meixell

US

+1 302 885 2677

 

 

 

Investor Relations

Thomas Kudsk Larsen

 

+44 203 749 5712

Henry Wheeler

Oncology

+44 203 749 5797

Christer Gruvris

Cardiovascular; Metabolism

+44 203 749 5711

Nick Stone

Respiratory; Renal

+44 203 749 5716

Josie Afolabi

Other

+44 203 749 5631

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Finance; Fixed Income

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Jennifer Kretzmann

Retail Investors

+44 203 749 5824

US toll-free

 

+1 866 381 7277

         

 

Adrian Kemp
Company Secretary

AstraZeneca PLC


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