AstraZeneca, a British-Swedish multinational pharmaceutical and biologics company, has agreed to sell the United States rights for its gastrointestinal drug, Entocort to Perrigo, a United States-based manufacturer of private label over-the-counter pharmaceuticals, it was reported yesterday.

The sale is part of AstraZeneca's plan to concentrate on three main therapy areas and the company stated that the product is outside its focus area.

The deal is likely to be completed by the end of 2015. It does not include the transfer of any AstraZeneca employees or plants.

AstraZeneca executive vice president of global product and portfolio strategy, Luke Miels, said, 'Our agreement with Perrigo completes the global divestment of Entocort, emphasising our strategic focus on three main therapy areas and providing further simplification of our supply chain.'