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LONDON (Alliance News) - AstraZeneca PLC Thursday said it will co-commercialise its Movantik treatment for opioid-induced constipation in adults with chronic non-cancer pain with Daiichi Sankyo Inc, in line with its recent strategy of developing and commercialising drugs on its own as well as through partnerships.
Under the deal, Daiichi Sankyo will pay a USD200 million up-front fee and subsequent sales-related payments of up to USD625 million. AstraZeneca will be responsible for manufacturing, will book all sales and will make sales-related commission payments to Daiichi Sankyo. Both companies will be jointly responsible for commercial activities.
Movantik was approved by the US Food and Drug Administration in September 2014, and is set to be launched in the US in early April.
"Our agreement reflects our evolving business model by creating value from our portfolio through externalisation activity. Together, we will grow the potential of this important treatment, while we retain our significant interest in the long-term commercial success of MOVANTIK in our largest market," said Paul Hudson, President, AstraZeneca US and Executive Vice President, North America.
"We are proud to bring our proven primary care and specialty expertise to this collaboration with AstraZeneca. MOVANTIK represents an opportunity to help patients manage one of the most common conditions arising from widely used pain medications, as well as an opportunity to continue to build the Daiichi Sankyo US portfolio of medicines in this therapeutic area," said Ken Keller, President, US Commercial, at Daiichi Sankyo.
AstraZeneca said the deal won't have any affect on its 2015 financial guidance.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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