February 25, 2020 / 7:17 AM / a month ago

BRIEF-Astrazeneca Says Divests Global Rights To Movantik

Feb 25 (Reuters) - AstraZeneca PLC:

* LICENSE TO REDHILL BIOPHARMA SUPPORTS ASTRAZENECA’S FOCUS ON MAIN THERAPY AREAS

* ASTRAZENECA DIVESTS GLOBAL RIGHTS TO MOVANTIK

* REDHILL WILL MAKE AN UPFRONT PAYMENT OF $52.5M TO ASTRAZENECA ON CLOSING AND A FURTHER NON-CONTINGENT PAYMENT OF $15M IN 2021

* AGREED TO SUBLICENSE ITS GLOBAL RIGHTS TO MOVANTIK EXCLUDING EUROPE, CANADA AND ISRAEL, TO REDHILL BIOPHARMA

* AS PART OF AGREEMENT, ASTRAZENECA WILL CONTINUE TO MANUFACTURE AND SUPPLY MOVANTIK TO REDHILL DURING A TRANSITION PERIOD Source text for Eikon: Further company coverage:

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