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AstraZeneca PLC (AZN)

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Thursday 06 December, 2018

AstraZeneca PLC

Divestment of rights to Covis completed

RNS Number : 5771J
AstraZeneca PLC
06 December 2018
 

6 December 2018 07:00 GMT

Divestment of rights to Alvesco, Omnaris 

and Zetonna to Covis Pharma completed

 

AstraZeneca has completed an agreement with Covis Pharma B.V. (Covis Pharma) to sell its rights to the medicines Alvesco (ciclesonide), used for the treatment of persistent asthma, and Omnaris and Zetonna (ciclesonide), used for the treatment of nasal symptoms associated with rhinitis. The rights cover markets outside the US and the US royalties for the medicines. The transaction does not include the transfer of any AstraZeneca employees or facilities.

 

Under the terms of the agreement, AstraZeneca has received a payment of $350m from Covis Pharma. As AstraZeneca will not maintain a significant ongoing interest in the medicines, the upfront payment, net of a significant, non-cash derecognition of an intangible asset will be reported as Other Operating Income & Expense in the Company's financial statements in the fourth quarter of 2018. The agreement does not affect the Company's financial guidance for 2018.

 

About Covis Pharma

Covis Pharma is headquartered in Zug, Switzerland and is a global speciality pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. Additional information is available at www.covispharma.com. 

 

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 - Oncology, Cardiovascular, Renal & Metabolism and Respiratory. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit astrazeneca.com and follow us on Twitter @AstraZeneca.

 

Media Relations

 

 

Karen Birmingham

UK/Global

+44 203 749 5634

Rob Skelding

UK/Global

+44 203 749 5821

Matt Kent

UK/Global

+44 203 749 5906

Gonzalo Viña

UK/Global

+44 203 749 5916

Jennifer Hursit

UK/Global

+44 203 749 5762

Jacob Lund

Sweden

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Michele Meixell

US

+1 302 885 2677

 

 

 

Investor Relations

 

 

Thomas Kudsk Larsen

 

+44 203 749 5712

Henry Wheeler

Oncology

+44 203 749 5797

Christer Gruvris

Cardiovascular; Metabolism

+44 203 749 5711

Nick Stone

Respiratory; Renal

+44 203 749 5716

Josie Afolabi

Other

+44 203 749 5631

Craig Marks

Finance; Fixed Income

+44 7881 615 764

Jennifer Kretzmann

Retail Investors

+44 203 749 5824

US toll-free

 

+1 866 381 7277

         

 

Adrian Kemp
Company Secretary

AstraZeneca PLC


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