AstraZeneca
announced an agreement with Daiichi Sankyo for the co-promotion and
supply of Nexium (esomeprazole magnesium), a proton pump inhibitor,
in Japan.
Under
the terms of this agreement, AstraZeneca and Daiichi Sankyo will
co-promote the product after it is approved for use in Japan.
AstraZeneca will manufacture and develop the product and Daiichi
Sankyo will be responsible for its distribution.
Daiichi
Sankyo will make an initial payment of $100 million to AstraZeneca,
paying further undisclosed sums when the product is approved and
sales target milestones are achieved.
Nexium
is approved in more than 120 countries for the treatment of
gastroesophageal reflux disease.
AstraZeneca
first submitted a regulatory application for Nexium in Japan in
February 2010.
AstraZeneca
is a global, innovation-driven biopharmaceutical business with a
primary focus on the discovery, development and commercialisation of
prescription medicines.