AstraZeneca signs deal to commercialise new drug with Daiichi Sankyo

19th Mar 2015 07:07

AstraZeneca has signed an agreement with US company Daiichi Sankyo to jointly commercialise a new drug called Movantik.Movantik is an oral treatment for opioid-induced constipation in adults with chronic non-cancer pain.No longer labelled a controlled substance by the US Drug Enforcement Administration, its launch has been scheduled to take place early in April 2015.According to an investor note AstraZeneca released on Thursday, the deal aims to "benefit patients by collaborating with subject matter experts that can help us to bring important treatments to market while delivering revenue".The agreement dictates that Daiichi Sankyo will pay $200m upfront and will then make sales-related payments totalling up to $625m.AstraZeneca has been given the responsibility of manufacturing, booking sales, and will pay regular commission to Daiichi Sankyo.AstraZeneca US president Paul Hudson said: "Our agreement reflects our evolving business model by creating value from our portfolio through externalisation activity."Together, we will grow the potential of this important treatment, while we retain our significant interest in the long-term commercial success of Movantik in our largest market."Dacha Sankyo US commercial president Ken Keller added: "We are proud to bring our proven primary care and specialty expertise to this collaboration with AstraZeneca."Movantik represents an opportunity to help patients manage one of the most common conditions arising from widely used pain medications, as well as an opportunity to continue to build the Daiichi Sankyo US portfolio of medicines in this therapeutic area."