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 (Picture) 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.
Involved fees earner: Fiona Adams – Greenberg Traurig; Miles Daly – Greenberg Traurig; Declan Grady – Greenberg Traurig; David Hirschman – Greenberg Traurig; Charlotte Irvine – Greenberg Traurig; Paul Maher – Greenberg Traurig; Ewen Mitchell – Greenberg Traurig; Sarah Moyles – Greenberg Traurig; Eleni Pittas – Greenberg Traurig; Henrietta Walker – Greenberg Traurig;
Law Firms: Greenberg Traurig;
Clients: AstraZeneca AB;