- AstraZeneca (NYSE:AZN) has finalized plans to divest its Crohn's disease drug Entocort by selling U.S. rights to the medicine to Perrigo (NASDAQ:PRGO) for $380M.
- The move is part of AstraZeneca's "externalization" drive, which aims to sell non-core products to help it fill a short-term revenue gap caused by older drugs, while investing in a pipeline of new medicines.
- Entocort had U.S. sales of $89M in the first nine months of 2015.
AstraZeneca, Perrigo sign deal for rights to Entocort
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