23rd Nov 2015 07:10
LONDON (Alliance News) - AstraZeneca PLC said Monday it has agreed to sell the US rights to its Crohn's disease medicine Entocort to Irish over-the-counter pharmaceuticals manufacturer Perrigo Co PLC for up to USD380 million.
The deal follows on from a previous deal to sell the rights to Entocort outside of the US to Tillotts Pharma AG, part of the Zeria Group, in July.
Under the deal Perrigo will pay up to USD380 million for the rights to sell Entocort capsules and authorised generic Entocort capsules.
AstraZeneca said that US product sales of Entocort were USD89 million in the first nine months of 2015. The sale is expected to complete by the end of the year, and AstraZeneca maintained its full year guidance.
"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," said AstraZeneca Executive Vice President of Global Product and Portfolio Strategy Luke Miels in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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