Sunovion Pharmaceuticals said today that it plans to divest the U.S. market rights for its allergy and asthma products to Covis Pharma, in an effort to narrow its focus to the company’s COPD portfolio.
Included in the deal is Sunovion’s Alvesco inhalation aerosol, its Omnaris nasal spray and its Zetonna nasal aerosol. All three products are ciclesonides that are approved to treat either asthma or allergic rhinitis.
“We are excited to announce this transaction and look forward to engaging with patients, physicians and customers in the continued support of these important products as we build out our respiratory franchise,” Covis CEO Michael Porter said in prepared remarks.
“With the divestiture of asthma and allergy products, Sunovion is reinforcing its strategic focus on chronic obstructive pulmonary disease in the respiratory area. Sunovion has the broadest COPD portfolio in the U.S., offering both handheld and nebulized treatment options that can be tailored to individual needs,” chairman & CEO Nobuhiko Tamura added. “We are committed to working closely with Covis Pharma to ensure a smooth transition of the divested products. Sunovion is well-positioned to continue to advance our robust respiratory portfolio and help people with serious medical conditions.”
The deal is slated to close during the first half of this fiscal year. Financial terms of the agreement were not disclosed.