LONDON – June 7, 2017 – International law firm Greenberg Traurig, LLP advised AstraZeneca on its agreement with Grünenthal to divest global rights to migraine treatment Zomig in all markets outside Japan. Zomig is intended for the acute treatment of migraines and cluster headaches, an area of medicine outside AstraZeneca’s strategic focus.
Upon completion, Grünenthal will pay AstraZeneca $200 million. AstraZeneca will continue to manufacture and supply the medicine to Grünenthal during a transition period and will also receive up to an additional $102 million in future milestone payments.
The transaction is expected to complete in the second quarter of 2017, subject to customary closing conditions and regulatory clearances.
This divestment is one of a steady stream of transactions in which Greenberg Traurig’s London office has represented AstraZeneca over the past seven years.
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 main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The company also is selectively active in the areas of Autoimmunity, Neuroscience, and Infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.
The Grünenthal Group is an entrepreneurial, science-based pharmaceutical company specialised in pain, gout, and inflammation with the ambition to deliver four to five new products to patients in diseases with high unmet medical need by 2022 and become a €2 billion company.
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