AstraZeneca has completed its previously announced agreement to divest the rights to Rhinocort Aqua (budesonide) nasal spray outside the US to Cilag GmbH International, an affiliate of Johnson & Johnson. Rhinocort Aqua nasal spray is indicated for allergic and non-allergic rhinitis and for treating nasal polyps.

Under the agreement, AstraZeneca has received a payment of $330 million from Cilag GmbH International for the rights to the medicine outside the US. The transaction does not include the transfer of any AstraZeneca employees or facilities.

Source: AstraZeneca