Pfizer and AstraZeneca agree deal on OTC Nexium
Pfizer has announced a deal with AstraZeneca for exclusive over-the-counter (OTC) rights to market Nexium for approved indications in the United States, Europe and the rest of the world.
Under the terms of the agreement, Pfizer will make an upfront payment of $250 million to AstraZeneca, who will be eligible to receive milestone and loyalty payments based on product launches and sales.
Proton pump inhibitor, Nexium (esomeprazole magnesium), is a leading prescription drug currently approved to treat patients with the symptoms of gastroesophageal reflux disease (GERD). It was launched by AZ in Europe in 2000, and a year later in the US.
"Nexium is one of the most recognised and respected products in its class with tremendous brand equity and loyalty. We are proud to be AstraZeneca’s partner of choice for OTC Nexium," said Paul Sturman, Pfizer Consumer Healthcare President.
"By working with AstraZeneca to offer upon regulatory approval an over-the-counter version of Nexium – a brand people know and trust – we are taking another crucial step to empower consumers by providing convenient access to important healthcare products.”
In addition to this deal, both Pfizer and AZ are exploring the potential for a strategic partnership that could include similar agreements for other AZ prescription brands, for which OTC versions might be appropriate.
