The Grünenthal Group has announced that it has entered into an agreement with AstraZeneca for the global rights to Zomig (Zolmitriptan) excluding Japan. Zomig is indicated for the acute treatment of migraines and cluster headaches. The transaction is expected to be completed before the end of the second quarter of 2017, subject to regulatory clearances.
The acquisition of the well-established Zomig products complements Grünenthal existing pain portfolio. Migraine has been one of the very few main pain indications, where Grünenthal had no presence.
Financials of the deal:
Grünenthal will pay AstraZeneca $ 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 are licensed to Impax Pharmaceuticals (Impax) who will continue to market Zomig in the US. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period.