Pfizer, AstraZeneca partner for OTC Nexium

AstraZeneca plc (LSE:AZN; NYSE:AZN) granted Pfizer Inc. (NYSE:PFE) exclusive, worldwide rights to market an OTC version of gastroesophageal reflux drug Nexium esomeprazole. Pfizer will pay $250 million up front to AstraZeneca, which is eligible for milestones and royalties. AstraZeneca will continue to market the prescription version of the proton pump inhibitor (PPI), and will supply the OTC version to Pfizer. The partners said an NDA submission to FDA for OTC Nexium is slated for next half. An MAA for OTC Nexium is under review in Europe. The prescription version of Nexium is approved in more than 120 countries. AstraZeneca recorded 2011 worldwide sales for Nexium of $4.4 billion. ...