AstraZeneca licenses rights to Synairgen asthma drug

LONDON, June 12 Thu Jun 12, 2014 2:17am EDT

LONDON, June 12 (Reuters) - AstraZeneca has struck a deal worth up to $232 million in milestone payments to license in rights to a drug from Synairgen for viral-induced exacerbation in asthma.

Britain's second biggest drugmaker - subject of a takeover bid by Pfizer that failed last month - said on Thursday it would pay UK-based Synairgen a $7.25 million upfront fee and potential development, regulatory and commercial milestones of up to $225 million for rights to SNG001. (Reporting by Ben Hirschler, Editing by Paul Sandle)