Sunovion to divest asthma and allergy products
USA-based Sunovion, a wholly-owned subsidiary of Sumitomo Dainippon Pharma (TYO: 4506), today announced that it has entered into a definitive agreement to divest the US market rights to its ciclesonide products for the treatment of asthma and allergic rhinitis.
The products to be sold to Switzerland-based Covis Pharma are Sunovion’s Alvesco (ciclesonide) Inhalation Aerosol, Omnaris (ciclesonide) Nasal Spray, and Zetona (ciclesonide) Nasal Aerosol. Financial terms of the transaction were not disclosed.
“We are excited to announce this transaction and look forward to engaging with patients, physicians and customers in the continued support of these important products as we build out our respiratory franchise,” said Michael Porter, chief executive of Covis Pharma, a subsidiary of Canada’s Concordia Healthcare (TSX: CXR).
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