ProStrakan reaches deal for Moventig with AstraZeneca
Posted: 1 March 2016 | | No comments yet
ProStrakan will make an upfront payment to AstraZeneca of $70 million to acquire the rights to Moventig in the EU, Iceland, Norway, Switzerland and Liechtenstein…
Under the terms of the agreement, ProStrakan will make an upfront payment to AstraZeneca of $70 million, to acquire the rights to sell and develop Moventig in the EU, Iceland, Norway, Switzerland and Liechtenstein. ProStrakan will make additional payments contingent on market access decisions in certain European markets, and will pay AstraZeneca tiered double-digit royalties on sales as well as sales milestones. In line with AstraZeneca’s ongoing interest in Moventig globally, certain strategic decisions will be made jointly between AstraZeneca and ProStrakan in the European territory.
Moventig is the first once-daily, oral peripherally-acting mu-opioid receptor antagonist (PAMORA) approved in Europe for the treatment of opioid-induced constipation (OIC) in adult patients who have had an inadequate response to laxative(s). The treatment is currently available in the UK, Ireland, Germany, the Nordics, Austria and Switzerland.
Moventig will complement ProStrakan’s existing cancer pain products
Commenting on the announcement, Luke Miels, Executive Vice President, Global Product and Portfolio Strategy, AstraZeneca, said: “ProStrakan’s significant expertise in the area of pain medication will ensure patients across Europe benefit from a first-in-class treatment. It complements our commitment along with Daiichi Sankyo to build the market and co-commercialise this important medicine in the US.”
Tom Stratford, Chief Executive of ProStrakan, added: “Moventig is an excellent fit for our oncology and pain-focused sales teams across Europe and opens up broader opportunities to serve both cancer and non-cancer chronic pain patients with this innovative, first-in-class therapy. This important medicine will complement our existing breakthrough cancer pain products, Abstral and PecFent, and, through our existing contact with oncology and pain specialists across the continent as well as other planned physician groups, I am confident that we can make Moventig available as an option to a broad range of patients who suffer opioid-induced constipation.”