AstraZeneca Competes Viela Divestment

AstraZeneca has completed the divestment of its 26.7% ownership in Viela Bio, as part of the proposed acquisition of Viela by Horizon Therapeutics. This follows the agreement to divest the shareholding on February 1, 2021.

AstraZeneca has received cash proceeds and profit of c.$775m. This will be accounted for in other operating income in the Company’s financial statements. The divestment does not impact the Company’s financial guidance for 2021.

Viela, headquartered in Gaithersburg, Maryland, is a biotechnology company dedicated to the discovery, development and commercialization of novel treatments for autoimmune and severe inflammatory diseases. Viela was founded in 2018 as a spinout from AstraZeneca, with clinical and pre-clinical projects from AstraZeneca’s inflammation and autoimmunity pipeline.