[Heavy] AstraZeneca sells nasal spray business to medical giant Johnson & Johnson

According to the market observation website, the famous British pharmaceutical company AstraZeneca PLC (AstraZeneca PLC) said on October 7th that it has sold Rhinocourt Aqua (Renault Court), a nasal spray business outside the US market, to Johnson & Johnson. The company Cilag GmbH is priced at $330 million. AstraZeneca said that the deal between the two sides should be completed by the end of this year.

Earlier, some people disclosed to the author that AstraZeneca will sell its nasal spray Rhinocort Aqua to Johnson and Johnson after the National Day holiday. At first, I thought it was just a rumor. I didn’t expect to take a vacation back. The fact that Renault Coat was sold has become an iron fight.

Renault's market is challenged

Renault Court, also known as budesonide nasal spray, is a glucocorticoid with potent topical anti-inflammatory and anti-allergic effects. Commonly used for seasonal and perennial allergic rhinitis, vasomotor rhinitis, can also be used to prevent the regeneration of nasal polyps after nasal polypectomy, symptomatic treatment of nasal polyps.

From the world's leading 10 brands of topical nasal preparations market in 2015, it can be seen that due to the large number of competing products, Renault's 2015 sales decreased by 24% year-on-year, which is a serious challenge for its market.

Table 1: Top 10 global brands of topical nasal preparations in 2015

In addition, according to AstraZeneca’s second-quarter 2016 financial report, the company’s revenue fell 4% year-on-year to US$5.6 billion, and its operating profit in the second quarter was US$303 million. It is foreseeable that AstraZeneca's sale of Renault is to optimize the product structure and perhaps have a certain relationship with the market of Renault.

Selling and selling of AstraZeneca

In recent years, AstraZeneca has been committed to selling and selling other product lines that are not part of AstraZeneca's core business areas of respiratory, cardiovascular & metabolic, and oncology. Understandably, the divestiture of non-core business is also an inevitable move for AstraZeneca to ease financial pressure and reverse the company's situation.

In June of this year, AstraZeneca sold the sales of anesthesia services outside the US market to AGI, which is owned by Aspen, for US$770 million. The entire marketing rights include dexamethasone (propofol injection, general anesthetic), Enna (lidocaine prilocaine cream, local anesthetic) and five local anesthetics.

On August 24, Pfizer signed an acquisition agreement with AstraZeneca to acquire AstraZeneca's rights to develop and commercialize small molecule anti-infective drugs in the later stages, mainly involving markets outside the United States. The agreement includes the newly approved drug in the European Union, Zavicefta (ceftazidime-abababatin), the marketed drugs Merrem/Meronem (meropenem) and Zinforo (ceftaroline), and the aztreonam-A, still in clinical development. Weibatan (ATM-AVI) and CXL.

Under the terms of the agreement, Pfizer will pay AstraZeneca a $550 million advance payment once the transaction is completed, and then pay a $175 million deferred payment in July 2019. In addition, AstraZeneca will receive up to $250 million in milestone payments, $600 million in sales-related payments, and tiered royalties for Zavicefta (ceftazidime-ababate) and ATM-AVI in specific markets.

On October 5, AstraZeneca said it would sell its drug AZD7986, a drug for chronic obstructive pulmonary disease or asthma, to the US pharmaceutical company INSM for US$150 million.

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