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AstraZeneca has agreed to divest its rights for Alvesco (ciclesonide), Omnaris and Zetonna (ciclesonide) medicines to Swiss speciality pharmaceutical firm Covis Pharma in a deal valued up to $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.
AstraZeneca has entered into an agreement with Covis Pharma to sell its rights to the medicines Alvesco (ciclesonide), used for the treatment of persistent asthma, and Omnaris and Zetonna (ciclesonide), used for the treatment of nasal symptoms associated