AstraZeneca sells 3 drugs for respiratory system diseases to Covis Pharma for $350m

AstraZeneca today has announced in a press release that it has sold its rights to three drugs for the treatment of respiratory system diseases such as asthma and rhinitis to Switzerland-based group Covis Pharma for $350m. Specifically, the treatments are Alvesco (asthma), Omnaris (rhinitis) and Zetonna (asthma), which last year generated combined revenues of $106m . AstraZeneca’s shares were down over 1% (London) after the transaction was announced.

(Source: AstraZeneca)