AstraZeneca sells rights for constipation drug to RedHill Biopharma

AstraZeneca will retain rights to sell Movantik in Europe, Canada and Israel

AstraZeneca - AstraZeneca sells rights for constipation drug to RedHill Biopharma


AstraZeneca PLC (LON:AZN) has sold the rights to its drug Movantik to RedHill Biopharma for US$67mln.

The treatment, used in patients suffering from constipation caused by painkillers, generated sales of US$96mln in the US alone last year.


READ: AstraZeneca revenues surge ahead but coronavirus clouds current year

The FTSE 100-listed firm has already divested the rights to sell the drug in Europe, Canada and Israel while the transaction, scheduled to complete in the first quarter, is not expected to hit guidance for 2020.

“This divestment supports our strategy to realise value from medicines in our portfolio that are mature or outside our current scope to enable reinvestment in our main therapy areas,” said Ruud Dobber, executive vice president at AstraZeneca’s biopharmaceuticals business unit.

Shares were flat at 7,416p on Tuesday morning.

Quick facts: AstraZeneca

Price: 6805 GBX

Market: LSE
Market Cap: £89.3 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Power Metal Resources 'pushing ahead with key projects' and in strong...

Power Metal Resources Plc's (LON:POW) Paul Johnson tells Proactive London's Andrew Scott they're in an advantageous financial position to deal with the current uncertainty around the coronavirus outbreak. He says they're conducting business diligently, safeguarding existing business...

2 days, 14 hours ago

2 min read