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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