AstraZeneca have agreed to sublicense the Movantik global rights to RedHill Biopharma

AstraZeneca have recently declared that they have agreed to sublicense the Movantik global rights to RedHill Biopharma, excluding Canada, Israel and Europe locations. Despite this, AstraZeneca will continue to manufacture and distribute the drug to RedHill during a transition period.
Executive Vice President of BioPharmaceuticals Business Unit, Ruud Dobber, stated: “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. Movantik is an important established medicine and the divestment to RedHill will ensure its continued availability for patients.”