Deals this week: AstraZeneca, Yuhan, Bristol-Myers

AstraZeneca has agreed to sell the rights for Alvesco (ciclesonide), Omnaris and Zetonna (ciclesonide) to Covis Pharma for $371m.

Covis Pharma currently markets the drugs in the US. The divestment will enable AstraZeneca to focus on the development of new and innovative drugs to fulfil the unmet needs of patients.

Based in the UK, AstraZeneca is a pharmaceutical and biopharmaceutical company, while Covis Pharma is a speciality pharmaceutical company based in Switzerland.

Yuhan has signed a $1.25bn licensing and co-operation agreement with Janssen Biotech for lung cancer drug Lazertinib.

Janssen will make an upfront payment of $50m to Yuhan, which will be entitled to receive $1.205bn in development and commercial milestones and double-digit royalties on net sales.

Janssen will be responsible for the development, manufacturing and commercialisation of Lazertinib and hold the global licensing rights to the drug, except in Korea where the rights will be held by Yuhan.

Based in Belgium, Janssen is a pharmaceutical company, while Yuhan is a South Korea-based pharmaceutical and chemical company.

Bristol-Myers Squibb has partnered with Infinity Pharmaceuticals to carry out a Phase II clinical trial named MARIO-275 to study opdivo (nivolumab) in combination with IPI-549 to treat patients with advanced urothelial cancer.

The MARIO-275 trial will involve 150 checkpoint-naïve advanced urothelial cancer patients, where the disease has progressed or recurred despite treatment with platinum-based chemotherapy.

Based in the US, Bristol-Myers Squibb is a pharmaceuticals company, while Infinity Pharmaceuticals is a biopharmaceutical company.

Aytu BioScience has licensed Tuzistra^® XR and a complementary antitussive product from Tris Pharma.

Tuzistra^® XR is a US Food and Drug Administration (FDA) approved prescription antitussive developed by Tris Pharma using its LiquiXR^® liquid sustained-release technology.

The transaction will enable Aytu to enter the cold and cough market, which is estimated to be worth $3bn. It will expand the company’s primary care portfolio and is expected to generate significant revenues.

Aytu also entered a strategic financing deal with Armistice Capital. Under the deal, Armistice Capital will provide $5m in the form of a three-year note, secured by the revenue streams generated by Tuzistra^® XR.

Based in the US, Aytu BioScience specialises in the commercialisation of novel products, while Tris Pharma is a privately-owned speciality pharmaceutical company.

Cumberland Pharmaceuticals has signed a definitive agreement to acquire Theravance Biopharma’s anti-infective drug VIBATIV^®.

Theravance will receive $20m following the closure of the deal, along with an additional $5m in 2019. It will also receive tiered royalties of up to 20% on future net product sales generated in the US.

Based in the US, Cumberland Pharmaceuticals is a speciality pharmaceutical company, while Theravance is a diversified pharmaceutical organisation.