Debevoise & Plimpton LLP is advising Johnson & Johnson Consumer Inc. (“J&J”) in the purchase from AstraZeneca of the global rights to Rhinocort Aqua outside the U.S. by its subsidiary Cilag GmbH International. Rhinocort Aqua is a nasal spray indicated for allergic and non-allergic rhinitis (inflammation of the inside of the nose), and for the treatment of nasal polyps (swelling of the nasal lining). The active ingredient is the anti-inflammatory medicine, budesonide.

Cilag GmbH International will pay AstraZeneca $330 million upon completion of the transaction, to acquire the rights to sell Rhinocort Aqua in all markets outside the U.S. In June 2014, AstraZeneca licensed the rights to develop and commercialize an over-the-counter version of Rhinocort Aqua in the U.S. to the McNeil Consumer Healthcare Division of J&J. The transaction is subject to customary closing conditions and is expected to complete in the fourth quarter of 2016.

The Debevoise team is led by partner Kevin A. Rinker and includes partners Andrew L. Bab, David Innes and Andrew M. Levine, counsel Erich O. Grosz and associates Emily F. Huang, Angela W. Lee, Andrew C. Rearick and John Rothert.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.