AZ Cashes In On No-Longer Core Nexium
AstraZeneca has agreed to sell certain rights to Nexium and Vimovo to Grunenthal, banking $815m upfront to boost the balance sheet and help fund development in its three main therapy areas.
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Pharma sells the rights to Germany’s Cheplapharm, which obtained EU/Russia rights in October. Cerecor will acquire Aevi Genomics for $16.1m plus contingent value rights.
Through its Provention collaboration, Amgen partnered with the team that worked on AMG 714 at Celimmune, which the big biotech bought in 2017. Lilly will partner with NextCure to use the latter's FIND-IO platform for immuno-oncology drug discovery.
Six early-stage biologics with potential to treat inflammation and auto-immunity disorders have been spun out of AstraZeneca's biologics arm, MedImmune, into a stand-alone Chinese investor-backed company, Viela Bio, underlining the commitment of the big pharma to its three areas of therapeutic focus.