AstraZeneca sells off international Rhinocort Aqua rights to Cilag

AstraZeneca has agreed a deal with fellow pharmaceutical company Cilag to sell off the international rights to the drug Rhinocort Aqua.

The company will divest rights to sell the nasal spray outside the US, with Johnson and Johnson affiliate Cilag to pay $330 million (266.36 million pounds) upon completion of the transaction.

Rhinocort Aqua is indicated for the treatment of allergic and nonallergic rhinitis, as well as for treating nasal polyps, using the anti-inflammatory medicine budesonide as an active ingredient.

AstraZeneca will not maintain a significant ongoing interest in Rhinocort Aqua following this transaction, which does not include the transfer of any of its employees or facilities.

Mark Mallon, executive vice-president for global product and 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."

This comes after the company sold off the US rights to the beta-blocker medicine Toprol-XL to Aralez earlier this week.

With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.