Nektar Receives Milestone Payment On First Sale Of MOVENTIG In Germany

(RTTNews) - Nektar Therapeutics (NKTR) announced the company has received a $40 million cash payment, under a license agreement with AstraZeneca, from the first commercial sale of MOVENTIG (naloxegol) in Germany. MOVENTIG is the first once-daily, oral peripherally-acting mu-opioid receptor antagonist medication approved in the European Union for the treatment of opioid-induced constipation in adult patients who have had an inadequate response to laxative.

MOVENTIG is part of the exclusive worldwide license agreement announced on September 21, 2009 between AstraZeneca and Nektar. Nektar received a $100 million milestone payment upon first commercial sale of MOVANTIK in the U.S. in March 2015. Nektar is also entitled to royalties on worldwide net product sales and up to $375 million in sales milestones.