Ciclesonides are included in the corticosteroids class of medications, and are approved to treat asthma (Alvesco) and allergic rhinitis (Omnaris and Zetonna).
“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,” said Michael Porter, CEO of Covis Pharma.
“With the divestiture of asthma and allergy products, Sunovion is reinforcing its strategic focus on chronic obstructive pulmonary disease (COPD) 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,” said Nobuhiko Tamura, Chairman and Chief Executive Officer, Sunovion. “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.”
Covis Pharma plans to ship all products immediately upon closing the transaction and will work with Sunovion to ensure uninterrupted access to patients.
The transaction is expected to close during the first half of Fiscal Year 2017, subject to customary closing conditions.