AstraZeneca has completed its agreement with Perrigo Company plc for the divestment of US rights to Entocort (budesonide), a gastroenterology medicine for patients with mild to moderate Crohn's disease, an area of medicine outside AstraZeneca's strategic focus.

Upon completion of the agreement, Perrigo paid AstraZeneca $380 million to acquire the rights to sell Entocort capsules and the authorized generic Entocort capsules marketed by Par Pharmaceuticals. The transaction does not include the transfer of any AstraZeneca employees or facilities.

The agreement completes the global divestment of Entocort, following the agreement entered into in July 2015 with Tillotts Pharma AG, part of the Zeria Group, for the divestment of global rights to Entocort outside the US.

Source: AstraZeneca