Horizon Pays $35M For AstraZeneca's Arthritis Drug Rights

Law360, New York (November 19, 2013, 4:31 PM EST) -- Horizon Pharma Inc. said Tuesday that it would buy the U.S. rights to make and sell AstraZeneca PLC’s Vimovo for $35 million up front, less than a month after the pharmaceutical giant accused four companies of infringing its patent for the arthritis medication.

Under the terms of the deal, Horizon will also pay a 10 percent royalty on net sales to Vimovo co-developer Pozen Inc. and is subject to annual minimum royalties of $5 million in 2014, which will increase to $7.5 million in 2015, as...
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