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Home Industry News AstraZeneca to purchase Almirall’s respiratory disease business

AstraZeneca to purchase Almirall’s respiratory disease business

4th August 2014

AstraZeneca has agreed a deal to purchase the respiratory franchise of fellow pharmaceutical company Almirall.

The firm will pay an initial consideration of $875 million (520.14 million pounds) when the transaction is completed, which is expected to occur before the end of the year. Up to $1.22 billion in development, launch and sales-related milestones may also be paid.

AstraZeneca will then assume ownership of Almirall's existing proprietary respiratory business, including rights to revenues from Almirall's existing partnerships, as well as its pipeline of investigational novel therapies.

Almirall's portfolio includes approved and developmental drug products such as Eklira, LAS40464 and LAS100977, which are intended for the treatment of conditions such as asthma and chronic obstructive pulmonary disorder (COPD).

Pascal Soriot, chief executive officer of AstraZeneca, said: "By combining our innovative portfolios and leveraging AstraZeneca's global scientific and commercial capabilities, we will strengthen our ability to address the entire spectrum of care in asthma and COPD."

The firm announced its financial results for the second quarter of 2014 last week, highlighting a year-on-year sales increase of four percent.ADNFCR-8000103-ID-801739589-ADNFCR

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