AstraZeneca hands over some rights to Nexium, Vimovo to Grünenthal as it plots turnaround
In a bid to rejuvenate growth following years of shrinking revenue and the loss of patent protection for its mainstay drugs, AstraZeneca $AZN is divesting certain rights to two assets — Nexium and Vimovo — to Germany’s Grünenthal for a combined upfront of $815 million.
Under chief Pascal Soriot AstraZeneca has suffered a series of pipeline setbacks, despite some landmark successes in oncology, and the British drugmaker has committed to streamlining its arsenal of products to focus on a handful of areas: oncology, cardiovascular, renal and metabolism as well as respiratory.
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