More divestments announced by AstraZeneca

6 November 2018

Adding to a flurry of divestments to concentrate on its core therapy areas, AstraZeneca (LSE: AN) has entered into another agreement with Swiss firm Covis Pharma to sell its rights to the medicines Alvesco (ciclesonide), usedfor the treatment of persistent asthma, and Omnaris and Zetonna(ciclesonide), used for the treatment of nasal symptoms associated with rhinitis.

AstraZeneca’s shares were down 1.96% at £57.62 by early afternoon today.

The rights cover markets outside the USA and the US royalties for the medicines. Covis Pharma currently commercializes the three products in the USA will own the global rights once the deal goes through. The transaction does not include the transfer of any AstraZeneca employees or facilities.

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