Grünenthal in US$300m deal with AstraZeneca

Grünenthal said the acquisition of the marketed drug would give the company access to the €450m European market for migraine treatments. Zolmitriptan (trade name: Zomig) is marketed as migraine and cluster headache treatment. The selective serotonin receptor agonist leads to vasoconstriction of cerebral vessels and decreases the release of proinflammatory cytokines.

Under the agreement, Grünenthal will pay AstraZeneca US$200m upon completion expected to close in Q2/2017. Additionally, AstraZeneca is eligible to receive up to US$102m in milestone payments. Grünenthal will acquire the rights to Zomig in all markets outside Japan, including the US, where the rights are licensed to Impax Pharmaceuticals, who will continue to market the drug in the US. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period. 

“Migraine has been one of the very few main pain indications we haven’t yet been able to offer a solution for. This is an important step to reach our ambition to become a €2bn company by 2022. It will also support our efforts to bring four to five innovative products to market in the same timeframe,” said Gabriel Baertschi, CEO of Grünenthal. In 2016, Grünenthal achieved revenues of approximately € 1.4 bn.