LONDON, June 10 AstraZeneca is to buy
U.S. respiratory drug specialist Pearl Therapeutics for up to
$1.15 billion as Britain's second biggest drugmaker steps up a
drive to rebuild its product pipeline via deal-making.
AstraZeneca said on Monday it would pay $560 million
upfront, plus up to $450 million if certain development
milestones are hit and sales-related payments of up to a further
Pearl's lead product, PT003, is a fixed dose combination of
formoterol fumarate, a long-acting beta-2-agonist (LABA) and
glycopyrrolate, a long-acting muscarinic antagonist (LAMA). It
is in final-stage Phase III clinical trials.