(Reuters) – AstraZeneca said on Monday it had finalised plans to divest its Crohn’s disease drug Entocort by selling U.S. rights to the medicine to Perrigo (PRGO.N) for $380 million.
The move is part of an “externalization” drive by the British drugmaker, which is selling non-core products to help it fill a short-term revenue gap caused by older products going off product, while investing in a pipeline of new medicines.
Entocort had U.S. sales of $89 million in the first nine months of 2015.
The deal, which is expected to complete by the end of 2015, follows AstraZeneca’s sale of rights to Entocort outside the United States in July to Tillotts Pharma, part of the Zeria Group.
AstraZeneca said its earnings per share outlook for the year, which was upgraded at third-quarter results earlier this month, would not change as a result of the Perrigo transaction.
(Reporting by Ben Hirschler; editing by Jason Neely)
Johnson Matthey Plc (JM; London) announced that it has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity (Montagu) for cash consideration of US$700 million (£550 million) on a cash free debt free basis.
Lonza AG (Basel, Switzerland) announced it has signed an agreement to acquire the Genentech large-scale biologics manufacturing site in Vacaville, Calif. from Roche (Basel, Switzerland) for $1.2 billion. The acquisition will significantly increase Lonza’s large-scale biologics manufacturing capacity.
Roquette plans to acquire International Flavors & Fragrances (IFF) Pharma Solutions for an enterprise value of up to €2.85 billion (US$3.09 billion). With the acquisition set to close in the first half of 2025, the plant-based ingredient and pharmaceutical excipients supplier aims to reinforce its position in the pharmaceutical industry.