AstraZeneca To Divest 26.7% Ownership In Viela Bio

(RTTNews) - AstraZeneca Plc. (AZN.L, AZN) said that it has agreed to divest its 26.7% ownership in Viela Bio, Inc. (Viela), as part of the proposed acquisition of Viela by Horizon Therapeutics plc (HZNP).

AstraZeneca expects to receive cash proceeds and profit of about $760 million - $780 million upon closing for the sale of the holding, which will be recorded in Reported and Core Other Operating Income and Expense in the Company's financial statements. AstraZeneca expects to complete the divestment by the end of the first quarter of 2021.

The divestment does not impact the company's financial guidance for 2020, AstraZeneca said.