StockMarketWire.com - Pharma giant AstraZeneca said it had completed the previously agreed sale of its global rights to Movantik, a treatment for opioid-induced constipation, to RedHill Biopharma for at least $52.5m.

Redhill also agreed to pay a further non-contingent payment of $15m in 2021, for the rights, which excluded Europe, Canada and Israel.

In 2019, Movantik generated sales of $96m in the US. The agreement would not impact the company's financial guidance for 2020, AstraZeneca said.







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