Covington Advises AstraZeneca on Divestment of Rights to Rhinocort Aqua

LONDON—Covington advised AstraZeneca on its agreement with Cilag GmbH International, an affiliate of Johnson & Johnson, for the divestment of the rights to Rhinocort Aqua outside the U.S.

Rhinocort Aqua is a nasal spray indicated for allergic and non-allergic rhinitis (inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasal lining). The active ingredient is the anti-inflammatory medicine budesonide. 

Cilag GmbH will pay $330,000,000 for the rights. The agreement is subject to customary closing conditions and is expected to complete in the fourth quarter of 2016.

Working together with AstraZeneca’s in-house legal team, the Covington team was led by Gregor Frizzell and Lucinda Osborne, and included Miranda Cole, Guy Dingley, Morag Peberdy, Kate Badr, Sunjay Malhotra, and Jacqui Clover.