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news.AstraZeneca has signed an agreement with Daiichi Sankyo for the co-promotion and supply of proton pump inhibitor Nexium (esomeprazole magnesium) in Japan.
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Nexium is indicated for the treatment of gastroesophageal reflux disease.
As per the terms of the agreement, AstraZeneca and Daiichi Sankyo will co-promote the product after it is approved for use in Japan.
AstraZeneca will manufacture and develop the product and Daiichi Sankyo will be responsible for its distribution.
Daiichi Sankyo will make an initial payment of $100m to AstraZeneca, paying further sums when the product is approved and sales target milestones are achieved.
AstraZeneca has first submitted a regulatory application for Nexium in Japan in February 2010.