Sunovion Enters Agreement to Divest Asthma and Allergy Products to Covis Pharma

7/13/17

MARLBOROUGH, Mass.--(BUSINESS WIRE)--Sunovion Pharmaceuticals Inc. (Sunovion) today announced that it has entered into a definitive agreement to divest the U.S. market rights to Sunovion’s ciclesonide products ALVESCO®(ciclesonide) Inhalation Aerosol, OMNARIS® (ciclesonide) Nasal Spray, and ZETONNA® (ciclesonide) Nasal Aerosol to Covis Pharma B.V. (Covis Pharma). 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.

Covis Pharma, headquartered in Zug, Switzerland, is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. Additional information is available on the Covis Pharma website at covispharma.com.

About ALVESCO, OMNARIS and ZETONNA

ALVESCO, OMNARIS and ZETONNA were licensed from Takeda GmbH (formerly Nycomed) by Sunovion (formerly Sepracor) in 2008. ALVESCO and OMNARIS were launched in 2008 and ZETONNA was launched in 2012 in the United States.

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