Covington Advises AstraZeneca on Divestment of Rights to Rhinocort Aqua

Covington Advises AstraZeneca on Divestment of Rights to Rhinocort Aqua

October 7, 2016

LONDON—Covington advised AstraZeneca on its agreement with Cilag GmbH International, an affiliate of Johnson & Johnson, for the divestment of the rights to Rhinocort Aqua outside the U.S.

Rhinocort Aqua is a nasal spray indicated for allergic and non-allergic rhinitis (inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasal lining). The active ingredient is the anti-inflammatory medicine budesonide. 

Cilag GmbH will pay $330,000,000 for the rights. The agreement is subject to customary closing conditions and is expected to complete in the fourth quarter of 2016.

Working together with AstraZeneca’s in-house legal team, the Covington team was led by Gregor Frizzell and Lucinda Osborne, and included Miranda Cole, Guy Dingley, Morag Peberdy, Kate Badr, Sunjay Malhotra, and Jacqui Clover.