Organon (OGN) announced an agreement with Eli Lilly (LLY) to become the sole distributor and promoter for the migraine medicines Emgality and Rayvow in Europe. Emgality, a humanized monoclonal antibody calcitonin gene-related peptide, or CGRP, antagonist, is indicated for the prophylaxis of migraine in adults who have at least four migraine days per month. Rayvow is a first-in-class serotonin 5-HT1F receptor agonist approved for the acute treatment of the headache phase of migraine attacks, with or without aura in adults. Under the terms of the agreement, Organon will become the sole distributor and promoter of Emgality and Rayvow in Europe. Lilly will remain the marketing authorization holder and will manufacture the products for sale. Total consideration to be paid to Lilly includes an upfront payment of $50M and sales-based milestone payments. The transaction is expected to close in Q1 upon completion of review with relevant country-specific authorities.
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