AstraZeneca sells US rights to Entocort in $380m deal
AstraZeneca has sold the US rights to Crohn's disease medicine Entocort to Perrigo Company for $380m (£250.8m).
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The FTSE 100 pharmaceuticals company announced the deal on Monday, which will give Perrigo the rights to sell Entocort capsules and authorised generic Entocort capsules marketed by Par Pharmaceuticals.
The deal completes its global divestment of the drug, after its July agreement with Tillotts Pharma for non-US rights to it.
The company said the drug, which is a gastroenterology medicine for patients with mild to moderate Crohn's disease, focuses on an area outside of the company’s strategic focus.
AstraZeneca’s Luke Miels said the deal emphasises its “strategic focus on three main therapy areas” and further simplifies its supply chain.
The deal is expected to be completed by the end of the year, subject to customary closing conditions.
US sales of Entocort were $89m to 30 September.