Grünenthal has picked up AstraZeneca’s statin therapy Crestor (rosuvastatin), currently approved in dyslipidaemia and hypercholesterolaemia treatment, in a deal worth a possible $350 million.
The deal awards Grünenthal the rights to market the Crestor in more than 30 European countries in Europe; however, the UK and Spain are excluded from the deal. In the same countries covered under the agreement, the drug generated sales of $136 million with a profit before tax of $98 million in 2019.
Upon closing of the deal expected in the first quarter of next year, Grünenthal will make an upfront payment of $320 million to AZ, with further milestone payments of up to $30 million to potentially follow.
“This agreement supports the management of our mature medicines to enable reinvestment into the pipeline and bringing new, innovative treatments to patients,” commented Ruud Dobber, Executive Vice President at AZ’s BioPharmaceuticals Business Unit. Grünenthal previously acquired the rights to several established AstraZeneca medicines and is well placed to ensure continued access to Crestor for patients across Europe.”
AZ confirmed that it will retain the rights to the medicine in the US, Japan, China and others not covered in the deal, and will continue to handle manufacturing to supply Grünenthal with the drug during the transition period.
Matt Fellows
This is a syndicated feed from Pharmafile
