AstraZeneca sells some rights to Nexium, Vimovo to Grunenthal

LONDON (Reuters) - AstraZeneca said it would sell the European rights to acid-reflux medicine Nexium to Grunenthal for an upfront $700 million (546.70 million pounds)and future sales-related payments of up to $90 million as it is not in the company's targeted therapy areas.The British company said Grunenthal, a privately owned German company, would also buy the worldwide rights, excluding the United Sates and Japan, to pain-relief drug Vimovo for $115 million plus potential additional payments..