AstraZeneca Sells Gastroenterology Drug Rights to Tillotts
AstraZeneca has sold global rights, excluding the U.S., to its Entocort gastroenterology drug to Tillotts Pharma for $215 million, as it focuses on cancer and diabetes therapies.
Entocort (budesonide) treats mild to moderate Crohn’s disease and ulcerative colitis and comes in capsules and enema formulations. It is available in more than 40 countries and generated sales of $53 million outside the U.S. last year.
AZ Vice President Luke Miels says the move reinforces the company’s strategic focus on selected therapy areas, while Entocort goes to a company that specializes in gastroenterology. Tillotts’ lead drug Asacol (mesalamine), which treats the same conditions, is marketed in 50 countries.
The deal is expected to close in the second half of 2015. AZ partners with Par Pharmaceutical to sell Entocort in the U.S. — Kellen Owings