AstraZeneca has completed the strategic transaction to transfer the rights to Almirall's respiratory franchise to the company.

As previously announced, the business combination gives AstraZeneca ownership of the rights for the development and commercialization of Almirall's proprietary respiratory business, including rights to revenues from Almirall's existing partnerships, as well as its pipeline of investigational novel therapies.

The franchise includes Eklira (aclidinium); Duaklir Genuair, the combination of aclidinium with formoterol (a long-acting muscarinic antagonista [LAMA]/l and a long-acting beta agonists [LABA]) that has received a positive opinion from the Committee for Medicinal Products for Human Use of the European Medicines Agency 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 programs. Almirall Sofotec, an Almirall subsidiary focused on the development of innovative proprietary devices, also transfers to AstraZeneca.

From completion, AstraZeneca will access all on-market revenues, contributing to the company's return to growth. Following the completion of the transaction, AstraZeneca will pay Almirall approximately $875 million of initial consideration, subject to adjustment for working capital, and up to $1.22 billion in development, launch and sales-related milestones. AstraZeneca has also agreed to make various sales-related payments.

Source: AstraZeneca