AstraZeneca Sells Moventig Rights to ProStrakan
UK-Swedish drugs maker AstraZeneca has agreed to sell the European rights for Moventig to ProStrakan, a subsidiary of Japanese life sciences company Kyowa Hakko Kirin.
The drug is the first peripherally-acting mu-opioid receptor antagonist (Pamora) approved in Europe to treat opioid-induced constipation (OIC) in adults who have not responded well to laxatives. OIC can be an uncomfortable side-effect of using opioids, or painkillers.
ProStrakan will make an upfront payment of $70 million to AstraZeneca to gain the rights to sell and develop Moventig in the EU, Iceland, Norway, Switzerland and Liechtenstein. Additional payments will be made depending on access to certain European markets, as well as tiered double-digit royalties on sales and sales milestones.
AstraZeneca said that, in line with its interest in Moventig globally, certain strategic decisions in Europe will be made jointly with ProStrakan.
Luke Miels, AstraZeneca’s executive vice president, global product and portfolio strategy, said the agreement reflects the company’s strategy to focus resources within its three main therapy areas while unlocking value from important medicines in its portfolio. He added that the deal complements AstraZeneca’s commitment with Daiichi Sankyo to build the market and co-commercialize the drug in the US.
ProStrakan’s CEO, Tom Stratford, said Moventig complements its existing breakthrough cancer pain products, Abstral and PecFent, and will open up broader opportunities to serve both cancer and non-cancer patients suffering from chronic pain.
