RedHill builds GI portfolio with Movantik acquisition
Amid growing interest in the potential for non-opioid pain-related treatments in the USA, Israel's RedHill Biopharma (Nasdaq: RDHL) has bought rights to Movantik (naloxegol), from AstraZeneca (LSE: AZN).
The British firm has agreed to sublicense global rights to Movantik, excluding Europe, Canada and Israel, for $52.5 million plus a further $15 million next year.
Movantik, a peripherally acting mu-opioid receptor antagonist (PAMORA), has been tested by the US regulator for abuse potential, with the FDA confirming that the drug has no risk of abuse or dependency.
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