AstraZeneca completes takeover of Almirall’s respiratory business

AstraZeneca has announced the completion of Almirall's respiratory franchise, a deal that has been valued at just under $2.1 billion (1.32 billion pounds).

Following the finalisation of the transaction, AstraZeneca will pay Almirall an initial fee of approximately $875 million and up to $1.22 billion in development, launch and sales-related milestones.

This gives AstraZeneca ownership of the rights for the development and commercialisation of Almirall’s proprietary respiratory business, including revenues from existing partnerships and full access to its pipeline of investigational novel therapies.

Brands and compounds such as Eklira, Duaklir Genuair and LAS100977 are all included in the deal, as well as Almirall Sofotec, a subsidiary business focused on the development of innovative proprietary devices.

Pascal Soriot, chief executive officer 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 chronic obstructive pulmonary disease."

The company has been investing heavily to bolster its future growth prospects after declining a bid to be acquired by US rival Pfizer earlier this year.