AstraZeneca to divest Rhinocort Aqua rights outside US

AstraZeneca and Cilag, an affiliate of Johnson & Johnson, have entered into an agreement for AstraZeneca to divest the rights to Rhinocort Aqua (budesonide) outside the US.

Rhinocort Aqua is a nasal spray for inflammation of the inside of the nose, as well as swelling of the nasal lining.

In the agreement, which is expected to close at the end of 2016, AstraZeneca will not maintain an interest in the product, and will receive $330 million from Cilag upon completion of the transaction.

Mark Mallon, executive vice president of global product and portfolio strategy at AstraZeneca, said in a statement, released on Friday, October 7: “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.”