AstraZeneca closes deal with Cilag for Rhinocort Aqua outside the U.S.

 

astra-zenAstraZeneca has completed the agreement with Cilag GmbH International, an affiliate of Johnson & Johnson, for the divestment of the rights to nasal spray Rhinocort Aqua outside the US.

Rhinocort Aqua nasal spray is indicated for allergic and non-allergic rhinitisĀ (inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasalĀ lining).

Under the agreement, AstraZeneca has received a payment of $330 million from Cilag GmbH International for the rights to the nasal spray outside the US.

“As AstraZeneca willnot 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,” the company has said on Monday in its press release.

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