PRODUCTSMovantik<SUP>®</SUP>, Talicia<SUP>®</SUP>, Aemcolo<SUP>®</SUP>

RedHill Biopharma Ltd. (NASDAQ: RDHL) is a specialty biopharmaceutical company primarily focused on commercialization and development of clinical and commercial stage drugs for the treatment of gastrointestinal diseases.  RedHill is launching two FDA approved products, Talicia® (omeprazole magnesium, amoxicillin and rifabutin) for the treatment of Helicobacter pylori (H. pylori) infection in adults and Aemcolo® (rifamycin), in-licensed from Cosmo Pharmaceuticals N.V., and FDA approved for treatment of travelers’ diarrhea caused by non-invasive strains of Escherichia coli (E. Coli) in adults. RedHill also recently acquired U.S. rights to a commercial stage product, Movantik®.

Background

Leading up to the approval of Talicia, RedHill was in search of both non-dilutive launch and acquisition financing.  In February 2020, RedHill simultaneously announced the licensing, from AstraZeneca, of U.S. rights of Movantik® (naloxegol), a peripherally acting mu-opioid receptor antagonist (PAMORA) indicated for the treatment of opioid-induced constipation, and a commitment of up to $115 million in the form of a senior loan, with fixed and contingent interest, from HCR.  Movantik® generated U.S. net sales of $96 million in 2019.  The initial capital is intended to fund RedHill’s product launches and the license from AstraZeneca.  “The acquisition of Movantik® is a transformative event for RedHill. We would like to thank AstraZeneca for entrusting us with this important product,” said Dror Ben-Asher, RedHill’s Chief Executive Officer. Micha Ben Chorin, RedHill’s Chief Financial Officer stated “We would like to thank HCR for their confidence and support and look forward to a fruitful partnership.”