Pfizer to pay $250 million to AstraZeneca for OTC Nexium marketing rights
August 14 , 2012
Pfizer is set to shell out around $250 million to acquire the global rights for the over-the-counter version of British drugmaker AstraZeneca heartburn pill Nexium.
The move means AstraZeneca will be eligible to get milestone and royalty payments from Pfizer based on the launch and sales of the drug.
AstraZeneca would also supply Pfizer with the over-the-counter version of Nexium, dependant on marketing approval.
The companies are also exploring possibilities of a strategic partnership that could include similar agreements for other AstraZeneca brands.