This announcement contains inside information
7 October 2016 07:00
ASTRAZENECA ENTERS AGREEMENT WITH
CILAG GMBH INTERNATIONAL TO DIVEST RIGHTS TO RHINOCORT AQUA
OUTSIDE THE US
AstraZeneca today announced that it has entered into an agreement with Cilag GmbH International, an affiliate of Johnson & Johnson, for the divestment of the rights to Rhinocort Aqua outside the US.
Rhinocort Aqua is a nasal spray indicated for allergic and non-allergic rhinitis (inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasal lining). The active ingredient is the anti-inflammatory medicine budesonide.
Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca, said: "This agreement allows us to concentrate our efforts in Respiratory as one of our three strategic therapy areas, on transforming the treatment of asthma and COPD, where budesonide remains a key component of our marketed as well as pipeline medicines."
Financial considerations
The agreement is subject to customary closing conditions and is expected to complete in the fourth quarter of 2016. As AstraZeneca will not maintain a significant ongoing interest in Rhinocort Aqua, the $330 million payment received from Cilag GmbH International upon completion of the transaction will be recognised as Other Operating Income in the Company's financial statements. The transaction does not include the transfer of any AstraZeneca employees or facilities and does not impact the Company's financial guidance for 2016.
About AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Respiratory, Cardiovascular & Metabolic Diseases, and Oncology. The Company is also selectively active in Neuroscience and Autoimmunity. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
CONTACTS
|
Media Enquiries |
||
|
Neil Burrows |
UK/Global |
+44 203 749 5637 |
|
Vanessa Rhodes |
UK/Global |
+44 203 749 5736 |
|
Karen Birmingham |
UK/Global |
+44 203 749 5634 |
|
Rob Skelding |
UK/Global |
+44 203 749 5821 |
|
Jacob Lund |
Sweden |
+46 8 553 260 20 |
|
Michele Meixell |
US |
+1 302 885 2677 |
|
Investor Relations |
||
|
UK |
||
|
Thomas Kudsk Larsen |
+44 203 749 5712 |
|
|
Craig Marks |
Finance, Fixed Income, M&A |
+44 7881 615 764 |
|
Nick Stone |
Respiratory |
+44 203 749 5716 |
|
Henry Wheeler |
Oncology |
+44 203 749 5797 |
|
Christer Gruvris |
Neuroscience & Autoimmunity |
+44 203 749 5711 |
|
US |
||
|
Lindsey Trickett |
Cardiovascular & Metabolic Diseases |
+1 240 543 7970 |
|
Mitchell Chan |
Oncology |
+1 240 477 3771 |
|
Toll-free |
+1 866 381 7277 |
Adrian Kemp
Company Secretary
AstraZeneca PLC
-ENDS-
This information is provided by RNS