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2020-02-25

AstraZeneca: AstraZeneca divests global rights to Movantik

License to RedHill Biopharma supports AstraZeneca's focus on main
therapy areas

AstraZeneca has agreed to sublicense its global rights to Movantik
(naloxegol), excluding Europe, Canada and Israel, to RedHill
Biopharma (RedHill). Movantik is a peripherally acting mu-opioid
receptor antagonist (PAMORA) indicated for the treatment of
opioid-induced constipation (OIC).

Ruud Dobber, Executive Vice President, BioPharmaceuticals Business
Unit, said: "This divestment supports our strategy to realise value
from medicines in our portfolio that are mature or outside our
current scope to enable reinvestment in our main therapy areas.
Movantik is an important established medicine and the divestment to
RedHill will ensure its continued availability for patients."

As part of the agreement, AstraZeneca will continue to manufacture and
supply Movantik to RedHill during a transition period. In 2015,
AstraZeneca entered into a co-commercialisation agreement with
Daiichi Sankyo, Inc. for Movantik in the US, which will be
transferred to RedHill.

Financial considerations

RedHill will make an upfront payment of $52.5m to AstraZeneca on
closing and a further non-contingent payment of $15m in 2021. Income
arising from the upfront payment, offset by a charge for
derecognition of the associated intangible asset, and the future
payment will be reported in AstraZeneca's financial statements within
Other Operating Income & Expense. In 2019, Movantik generated sales
of $96m in the US. The divestment is expected to complete in the
first quarter of 2020, subject to customary closing conditions and
regulatory clearances. Upon completion, the agreement will not impact
the Company's financial guidance for 2020.

Movantik

Movantik is a once-daily oral PAMORA approved by the US Food and Drug
Administration for the treatment of OIC in adult patients with
chronic non-cancer pain. Movantik was licensed from Nektar
Therapeutics in 2009. It was developed using Nektar's oral
small-molecule polymer conjugate technology. In 2016, AstraZeneca
divested the rights in Europe to ProStrakan Group (now KKI) and the
rights in Canada and Israel to Knight Therapeutics.

AstraZeneca

AstraZeneca (LSE/STO/NYSE: AZN) is a global, science-led
biopharmaceutical company that focuses on the discovery, development
and commercialisation of prescription medicines, primarily for the
treatment of diseases in three therapy areas - Oncology,
Cardiovascular, Renal and Metabolism, and Respiratory. Based in
Cambridge, UK, AstraZeneca operates in over 100 countries and its
innovative medicines are used by millions of patients worldwide.
Please visit astrazeneca.com (http://www.astrazeneca.com/) and follow
the Company on Twitter @AstraZeneca
(https://twitter.com/AstraZeneca).

Media Relations
Gonzalo Viña +44 203 749 5916
Rob Skelding Oncology +44 203 749 5821
Rebecca Einhorn Oncology +1 301 518 4122
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Angela Fiorin BioPharmaceuticals +44 1223 344 690
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Christina Sweden +46 8 552 53 106
Malmberg
Hägerstrand
Michele Meixell US +1 302 885 2677

Investor
Relations
Thomas Kudsk +44 203 749 5712
Larsen
Henry Wheeler Oncology +44 203 749 5797
Christer BioPharmaceuticals +44 203 749 5711
Gruvris (Cardiovascular, Metabolism)
Nick Stone BioPharmaceuticals (Renal) +44 203 749 5716
Environmental, Social and
Governance
Josie Afolabi BioPharmaceuticals +44 203 749 5631
(Respiratory)
Tom Waldron Other medicines +44 7385 033 717
Craig Marks Finance Fixed income +44 7881 615 764
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Kretzmann investors
US toll-free +1 866 381 72 77

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