RedHill Biopharma Ltd (RDHL)

[noretreat]

Redhill Biopharma ADRs Add 4% Pre-Bell; Gets Commercialization Rights For Gastroesophageal Reflux Drug
MIDNIGHT TRADER 6:51 AM ET 8/17/2017

07:51 AM EDT, 08/17/2017 (MT Newswires) -- Redhill Biopharma(RDHL) American depository shares were higher 4% in pre-market trade after the company said it has been granted exclusive rights to promote a treatment for gastroesophageal reflux disease and other gastrointestinal conditions.

The commercialization agreement with specialty pharmaceutical company ParaPRO grants RedHill exclusive rights to market someprazole strontium delayed-release capsules, a prescription proton pump inhibitor.

Under the terms, RedHill is not required to make any upfront or milestone payments and the parties will share the revenues generated based on an agreed upon split between them. The initial term of the commercialization agreement is three years. RedHill expects to begin U.S. promotion of the product in the coming weeks.

RedHill noted it has a co-promotion agreement with a subsidiary of Concordia (CXRX) granting RedHill certain U.S. promotion rights for Donnatal, another gastrointestinal drug.

Price: 8.85, Change: +0.31, Percent Change: +3.63

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