Impax licenses migraine drug rights from AstraZeneca
HAYWARD, Calif. — Impax Pharmaceuticals said Wednesday that it obtained exclusive U.S. commercial rights to a drug for migraine headaches made by AstraZeneca.
Impax Pharmaceuticals, the branded drugs arm of Impax Labs, said it would make quarterly payments of $130 million to AstraZeneca during 2012, afterward paying the Anglo-Swedish drug maker tiered royalties on future sales of the drug Zomig (zolmitriptan). Impax is licensing Zomig's orally disintegrating tablet and nasal spray formulations. Zomig had sales of $163 million during the 12-month period ended in September 2011, according to Impax.
"We are pleased to obtain a licensing agreement for Zomig, consistent with our goal to increase the revenue and financial contribution of our Impax Pharmaceuticals business to Impax Labs," Impax Pharmaceuticals president Michael Nestor said. "The Zomig product franchise fits well with the capabilities of our neurology-focused specialty sales force."