Aventis announced that it has agreed to sell the global rights to Azmacort (triamcinolone acetonide) Inhalation Aerosol to Kos Pharmaceuticals, Inc., a specialty pharmaceutical company based in Miami, Florida. Under the terms of the agreement, Kos will acquire Azmacort for a one-time cash purchase price of U.S. $200 million. Additionally, upon the launch of an Azmacort HFA formulation (HFA, or hydrofluoralkane propellant, has significantly less ozone-depleting potential than the propellant in the original Azmacort formulation), Kos will pay Aventis an annual royalty on net sales.

The divestiture of this product is in line with the company’s strategy to actively evaluate its product portfolio, and assess opportunities for divestment and replacement with compounds focused on strengthening key disease areas.

This transaction is expected to be completed by the end of the first quarter of 2004, pending U.S. regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”).

Azmacort is an inhaled corticosteroid indicated as prophylactic treatment for the maintenance of asthma for patients age six and up. Azmacort is also indicated for asthma patients who require systemic corticosteroid administration, where adding Azmacort may reduce or eliminate the need for systemic corticosteroids. In 2003, global net sales of Azmacort were approximately € 78 million.