Following up on last week's $815 million sale, AstraZeneca is selling three older drugs for asthma and rhinitis for at least $350 million as the company continues its divestment strategy in order to shift its investment to new medicines.
Covis Pharma will pay AstraZeneca $350 million for rights to Alvesco, Omnaris and Zetonna, plus conditional sales-related payments of up to $21 million over four years from 2019. In 2017, the three drugs had combined sales of $106 million. Covis already markets the drugs in the United States.
According to the companies, the deal is expected to close by the end of 2018.
Read the Reuters report