AstraZeneca PLC AZ completes agreement for Rhinocort Aqua rights (8873Q)
05 December 2016 - 6:45PM
UK Regulatory
TIDMAZN
RNS Number : 8873Q
AstraZeneca PLC
05 December 2016
05 December 2016 07:00
ASTRAZENECA COMPLETES AGREEMENT WITH
CILAG GMBH INTERNATIONAL FOR RIGHTS
TO RHINOCORT AQUA OUTSIDE THE US
AstraZeneca today announced that it has completed the 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).
Under the terms of the agreement, AstraZeneca has received a
payment of $330 million from Cilag GmbH International for the
rights to the medicine outside the US. As AstraZeneca will not
maintain a significant ongoing interest in Rhinocort Aqua, the
payment will be recognised as Other Operating Income in the
Company's financial statements, and will be booked in the fourth
quarter of 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 main therapy areas - Oncology, Cardiovascular & Metabolic
Diseases and Respiratory. The Company also is selectively active in
the areas of autoimmunity, neuroscience and infection. 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 and follow us on Twitter
@AstraZeneca.
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Adrian Kemp
Company Secretary, AstraZeneca PLC
This information is provided by RNS
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