Continuing its strategy of offloading non-core products in order to prioritise its resources on key growth areas, AstraZeneca (AZ) has out-licensed its Phase IIb inflammatory disease asset MEDI2070 to Allergan and granted Insmed global rights to Phase II-ready AZD7986 for non-cystic fibrosis bronchiectasis. The company has also agreed to divest ex-US rights to Rhinocort Aqua® (budesonide) to Johnson & Johnson’s Cilag and US rights to branded and authorised generic versions of Toprol-XL® (metoprolol succinate) to Aralez Pharmaceuticals. The four deals together provide AZ with US$785 M in upfront payments and the potential for up to US$1.48 B in future milestone payments.