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AstraZeneca PLC

Drug Names(s): omeprazole, Losec (EU), Omepral, Omeprazon (Japan)

Description: The first of a class of medications called proton pump inhibitors, Prilosec targets acid production at its source, slowing production of acid from the cells of the stomach lining.

Deal Structure: Prilosec was originally developed by Astra AB.

In 1998, Astra and Zeneca announced a merger of equals.

Astra AB and Merck
In 1982, Astra created a joint venture with Merck for the purpose of selling, marketing and distributing certain Astra products in the United States.

In connection with the merger of Astra and Zeneca, AstraZeneca will pay Merck a lump sum of approximately $740m and approximately $950m as a payment of part of the price for the option (which may be exercised by Merck in 2008 or Astra in 2010) for Mercks remaining interest in sales of products other the Prilosec and perprazole.

In 2008, AstraZeneca announced that Merck has elected not to exercise the First Option related to the relinquishment of Mercks rights over the products not covered by the Partial Retirement of AstraZenecas and Mercks 1982 agreement.

In 2010, AstraZeneca notified Merck that it will exercise the First Option related to the relinquishment of...See full deal structure in Biomedtracker

Prilosec News

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