AstraZeneca agrees $380m Entocort deal
AstraZeneca has agreed to let distributor Perrigo Company sell its Entocort (budesonide) drug.
Perrigo will pay AstraZeneca $380 million in exchange for the rights to sell Entocort capsules, used to treat Crohn’s disease.
No employees or facilities were transferred under the terms of the agreement.
In addition to the right to sell the drug, Perrigo will also be allowed to sell the authorised generic version, manufactured by Par Pharmaceutical.
In the first nine months of 2015, US sales of Entocort totalled $89 million, according to AstraZeneca.
The agreement was confirmed on November 23.
Luke Miels, executive vice president at AstraZeneca, said: “Our agreement with Perrigo completes the global divestment of Entocort, emphasising our strategic focus on three main therapy areas and providing further simplification of our supply chain.
“We are pleased to be working with Perrigo to ensure patients with Crohn’s disease in the US continue to benefit from this important medicine,” he added.
Joseph Papa, chief executive of Perrigo, said: “The addition of Entocort represents a strong strategic fit with our portfolio of prescription medicines.”
