AstraZeneca divests migraine drug for $302M

AstraZeneca on Wednesday sold its migraine treatment Zomig to German drugmaker Grunenthal in a deal worth $302 million, reports Reuters.

Here are four things to know.

  1. Grunenthal will make $200 million in upfront payments for the global rights to Zomig in all markets besides Japan, according to the report.

  1. AstraZeneca will be eligible for up to $102 million in milestone payments.

  1. Impax Pharmaceuticals previously licensed the U.S. rights to Zomig from AstraZeneca and will continue to sell the drug in this market, reports Reuters.

  1. The deal marks a recent string of divestitures for AstraZeneca, which is shifting focus to new disease treatments, including cancer drugs.

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