REG - AstraZeneca PLC - AZ completes agreement for Rhinocort Aqua rights <Origin Href="QuoteRef">AZN.L</Origin>

AstraZenecaAnnouncement

05/12/2016 07:05

RNS Number : 8873Q
AstraZeneca PLC
05 December 2016
05 December 2016 07:00
ASTRAZENECA COMPLETES AGREEMENT WITH 
CILAG GMBH INTERNATIONAL FOR RIGHTS 
TO RHINOCORT AQUA OUTSIDE THE US
AstraZeneca today announced that it has completed the agreement with Cilag GmbH International, an affiliate of Johnson & Johnson, for the divestment of the rights to Rhinocort Aqua outside the US. Rhinocort Aqua is a nasal spray indicated for allergic and non-allergic rhinitis(inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasallining).
Under the terms of the agreement, AstraZeneca has received a payment of $330 million from Cilag GmbH International for the rights to the medicine outside the US. As AstraZeneca will not maintain a significant ongoing interest in Rhinocort Aqua, the payment will be recognised as Other Operating Income in the Company's financial statements, and will be booked in the fourth quarter of 2016. 
About AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca.comand follow us on Twitter @AstraZeneca.
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