Sector News

AstraZeneca sells U.S. drug rights to Perrigo for $380 million

November 23, 2015
Life sciences

(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)

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

AbbVie lifts insider Jeffrey Stewart to commercial chief as company veteran Carlos Alban retires

Life sciences

AbbVie will soon have a new chief commercial officer, who’ll assume the heavy responsibility of navigating the Illinois pharma’s marketing transition from megablockbuster Humira.

November 27, 2020

Belgium biotech argenx nabs Bayer speedy review voucher for a cool $98M

Life sciences

The biotech, which has a series of deals across Big Pharma, will use the voucher, which can speed up the regulatory process for a new drug, for its late-stage drug efgartigimod—but not in the indication you might think.

November 27, 2020

Galapagos sells off Fidelta as CRO activities ‘no longer fit with its strategy’

Life sciences

Galapagos is selling off its contract research organization Fidelta for $37 million to Polish life science company Selvita. Fidelta focuses on inflammation, fibrosis and anti-infectives, with 181 employees at the helm.

Send this to a friend