AZN Astrazeneca Plc

TIDMAZN

RNS Number : 9502L

AstraZeneca PLC

07 October 2016

This announcement contains inside information

7 October 2016 07:00

ASTRAZENECA ENTERS AGREEMENT WITH

CILAG GMBH INTERNATIONAL TO DIVEST RIGHTS TO RHINOCORT AQUA

OUTSIDE THE US

AstraZeneca today announced that it has entered into an 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). The active ingredient is the anti-inflammatory medicine budesonide.

Mark Mallon, Executive Vice President, Global Product & Portfolio Strategy at AstraZeneca, said: "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."

Financial considerations

The agreement is subject to customary closing conditions and is expected to complete in the fourth quarter of 2016. As AstraZeneca will not maintain a significant ongoing interest in Rhinocort Aqua, the $330 million payment received from Cilag GmbH International upon completion of the transaction will be recognised as Other Operating Income in the Company's financial statements. The transaction does not include the transfer of any AstraZeneca employees or facilities and does not impact the Company's financial guidance for 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 therapy areas - Respiratory, Cardiovascular & Metabolic Diseases, and Oncology. The Company is also selectively active in Neuroscience and Autoimmunity. 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

CONTACTS

 
 Media Enquiries 
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 Vanessa Rhodes        UK/Global                +44 203 749 5736 
 Karen Birmingham      UK/Global                +44 203 749 5634 
 Rob Skelding          UK/Global                +44 203 749 5821 
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 Jacob Lund            Sweden                    20 
 Michele Meixell       US                       +1 302 885 2677 
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 UK 
 Thomas Kudsk 
  Larsen                                        +44 203 749 5712 
                       Finance, Fixed           +44 7881 615 
 Craig Marks            Income, M&A              764 
 Nick Stone            Respiratory              +44 203 749 5716 
 Henry Wheeler         Oncology                 +44 203 749 5797 
                       Neuroscience 
 Christer Gruvris       & Autoimmunity          +44 203 749 5711 
 US 
                       Cardiovascular 
 Lindsey Trickett       & Metabolic Diseases    +1 240 543 7970 
 Mitchell Chan          Oncology                +1 240 477 3771 
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Adrian Kemp

Company Secretary

AstraZeneca PLC

-ENDS-

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