AstraZeneca has completed its agreement with Perrigo Company plc for the divestment of US rights to Entocort.
As explained Tuesday in a press release, Entocort is a gastroenterology medicine for patients with mild to moderate Crohn’s disease, an area of medicine outside AstraZeneca’s strategic focus.
According to the British drugmaker, upon completion of the agreement, Perrigo paid AstraZeneca $380 million to acquire the rights to sell Entocort capsules and the authorised generic Entocort capsules marketed by Par Pharmaceuticals. The transaction does not include the transfer of any AstraZeneca employees or facilities, the company said.
The agreement completes the global divestment of Entocort, following the agreement entered into in July 2015 with Tillotts Pharma AG, part of the Zeria Group, for the divestment of global rights to Entocort outside the US. The divestment further emphasises AstraZeneca’s strategic focus on three main therapy areas. The transaction does not impact AstraZeneca’s financial guidance for 2015.