Almirall completes respiratory deal with AstraZeneca

Published: 3-Nov-2014

AZ now owns rights to develop existing respiratory business of Almirall as well as its partnership revenues and pipeline

Almirall has completed the deal to transfer the rights to its respiratory franchise to AstraZeneca.

AstraZeneca now owns the rights for the development and commercialisation of Almirall’s existing proprietary respiratory business, including rights to revenues from Almirall’s partnerships, as well as its pipeline of investigational novel therapies.

The franchise includes Eklira (aclidinium); Duaklir, the combination of aclidinium with formoterol (LAMA/LABA) that has received a positive opinion from the CHMP in the EU and is being developed in the US; LAS100977 (abediterol), a once-daily long-acting beta2-agonist (LABA) in Phase II; an M3 antagonist beta2-agonist (MABA) platform in pre-clinical development (LAS191351, LAS194871) and Phase I (LAS190792); and multiple pre-clinical programmes.

Almirall Sofotec, an Almirall subsidiary focused on the development of innovative proprietary devices, has also been transferred to AstraZeneca.

Almirall announced the deal on 30 July. It includes an upfront cash payment on completion of US$875m and, additionally, up to $1.22bn related to development, launch, and sales-related milestones. AstraZeneca has also agreed to make various sales-related payments.

Jorge Gallardo, President of Almirall, said: 'This global collaboration will allow us to maximise the potential value of our exciting respiratory franchise and AstraZeneca is the perfect partner to do this.

'Moreover, the deal has given us a strong financial baseline to accelerate our strategy and to start focusing our resources in becoming a top dermatology global player with an additional interest in other specialist areas. Excellence in R&D will remain a key part of Almirall’s business going forward and we are confident that this agreement will make a significant contribution to the company’s long-term growth.'

Pascal Soriot, Chief Executive, of AstraZeneca, said: 'Respiratory disease is one of our company’s key therapeutic areas, and the combination of these exciting portfolios reinforces our long-term commitment to patients with asthma and COPD. Our expanded product and device offering will enable us to bring better treatment options to patients.'

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