LONDON – 8 November 2018 – The London office of global law firm Greenberg Traurig LLP represented AstraZeneca AB on its agreement with Grünenthal to divest the European rights to Nexium for an upfront payment of USD700 million with further sales-related and milestone payments of up to USD90 million. Nexium (esomeprazole) is a proton pump inhibitor that decreases the amount of acid produced in the stomach. The law firm also represented AstraZeneca AB on its agreement with Grünenthal to divest the global rights to Vimovo in all markets excluding the US and Japan for an upfront payment of USD115 million and further payments up to another USD17 million. Vimovo combines the non-steroidal anti-inflammatory drug naproxen with esomeprazole, the active ingredient in Nexium, for patients a risk of developing ulcers.
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal & Metabolism and Respiratory. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Grünenthal is a science-based pharmaceutical company specialised in innovative pain management and related therapies. These divestments are part of several transactions in which Greenberg Traurig’s London office has represented AstraZeneca over the past eight years.
The deal was led by Adam McArthur and Warren Brown, in-house lawyers at AstraZeneca AB. Greenberg Traurig team members involved in these latest transactions included: Paul Maher, Vice Chair of Greenberg Traurig; Fiona Adams, Co-Managing Shareholder of the London office and the Co-Chair of the firm’s Global Corporate Practice; shareholders Henrietta Walker and Sarah Moyles; associates David Hirschman, Charlotte Irvine, Miles Daly, Eleni Pittas, and Declan Grady; and IP Consultant Ewen Mitchell.
“It has been an absolute pleasure to represent AstraZeneca and to work with Adam and Warren, its dynamic and commercially driven legal team,” Maher said. “We are proud to have been able to help them achieve AstraZeneca’s strategic divestment goals.”
About Greenberg Traurig’s Corporate Practice
Greenberg Traurig’s Corporate Practice comprises more than 450 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.
About Greenberg Traurig’s London Office: Greenberg Traurig, LLP in London has established itself as a multidisciplinary law firm, with more than 80 lawyers and growing. The London office provides partner-led advice to domestic and international clients on a range of matters across the legal spectrum. Lawyers at Greenberg Traurig in London advise U.K. and multinational clients operating in many different sectors, including chemicals, pharmaceuticals, life sciences, energy, real estate, financial services, automotive, retail, and communications.
About Greenberg Traurig: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: www.gtlaw.com; Twitter: @GT_Law.
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal & Metabolism and Respiratory. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Grünenthal is a science-based pharmaceutical company specialised in innovative pain management and related therapies. These divestments are part of several transactions in which Greenberg Traurig’s London office has represented AstraZeneca over the past eight years.
The deal was led by Adam McArthur and Warren Brown, in-house lawyers at AstraZeneca AB. Greenberg Traurig team members involved in these latest transactions included: Paul Maher, Vice Chair of Greenberg Traurig; Fiona Adams, Co-Managing Shareholder of the London office and the Co-Chair of the firm’s Global Corporate Practice; shareholders Henrietta Walker and Sarah Moyles; associates David Hirschman, Charlotte Irvine, Miles Daly, Eleni Pittas, and Declan Grady; and IP Consultant Ewen Mitchell.
“It has been an absolute pleasure to represent AstraZeneca and to work with Adam and Warren, its dynamic and commercially driven legal team,” Maher said. “We are proud to have been able to help them achieve AstraZeneca’s strategic divestment goals.”
About Greenberg Traurig’s Corporate Practice
Greenberg Traurig’s Corporate Practice comprises more than 450 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.
About Greenberg Traurig’s London Office: Greenberg Traurig, LLP in London has established itself as a multidisciplinary law firm, with more than 80 lawyers and growing. The London office provides partner-led advice to domestic and international clients on a range of matters across the legal spectrum. Lawyers at Greenberg Traurig in London advise U.K. and multinational clients operating in many different sectors, including chemicals, pharmaceuticals, life sciences, energy, real estate, financial services, automotive, retail, and communications.
About Greenberg Traurig: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: www.gtlaw.com; Twitter: @GT_Law.