This article is more than 5 years old. Information may no longer be current.
Tillotts to acquire global rights for Entocort for IBD outside US
Click Here to Manage Email Alerts
Switzerland-based Tillotts Pharma AG today announced an agreement to acquire the global rights for Entocort outside the U.S. from AstraZeneca, according to a press release.
Entocort (budesonide) is a locally-acting glucocorticosteroid approved in more than 40 countries for the treatment of inflammatory bowel disease, primarily Crohn’s disease, for which it is available in 3-mg capsules, but also ulcerative colitis in some markets, for which it is available as an enema formulation, the release said.
“Entocort perfectly complements our Asacol [mesalamine] portfolio marketed in 50 countries worldwide through our own European Affiliates, our Japanese mother company Zeria Pharmaceutical, and our trusted network of marketing partners,” Thomas A. Tóth von Kiskér, CEO at Tillotts, said in the release. “This agreement underscores our commitment to continue to position Tillotts as a leading European specialist in the field of gastroenterology, offering patients a wide range of treatments for the GI tract.”
According to the release, Tillotts will make a $215 million up-front payment to AstraZeneca to acquire all rights related to manufacturing, marketing, sales and trademarks of Entocort, and will take over global supply and distribution in markets outside the U.S. The transaction will not include any employees or facilities belonging to AstraZeneca.
“We are excited to obtain a well-established brand, such as Entocort, and to expand its commercial reach to Japan and other countries,” Sachiaki Ibe, chairman and CEO of Zeria Pharmaceutical, said in the release. “With this move, we confirm our expansion strategy of organic growth combined with merger and acquisition activities, while delivering increased value to our shareholders."
“Our agreement with Tillotts reinforces our strategic focus on selected therapy areas and puts this important medicine in the hands of a company with specialist expertise in gastroenterology, which will benefit patients,” Luke Miels, executive vice president, global product and portfolio strategy and corporate affairs at AstraZeneca, said in the release.
Disclosures: Tóth von Kiskér is an employee of Tillotts, Ibe is an employee of Zeria and Miels is an employee of AstraZeneca.