United Kingdom-based AstraZeneca has agreed to offload its rights to asthma drug Alvesco (ciclesonide) and nasal sprays Omnaris and Zetonna (ciclesonide) to Covis Pharma, a Switzerland-based specialty pharmaceutical company, it was reported yesterday.

The deal is valued at USD350m. Covis Pharma will also make conditional sales-related payments for the three over-the-counter drugs of up to USD21m over four years from 2019. The rights being divested by AstraZeneca include markets outside the US and the US royalties for the three drugs. Currently, Covis Pharma commercialises the three drugs in the US and following the closing of the latest deal, will become the owner of the drugs.

Alvesco is an inhaled anti-inflammatory maintenance therapy and is delivered by a metered-dose inhaler to help control persistent asthma. Omnaris and Zetonna are used for the treatment of nasal symptoms associated with seasonal allergic and allergic/non-allergic perennial rhinitis. The active ingredient in all the three drugs is ciclesonide, which is a synthetic corticosteroid that aids in reducing inflammation.