June 12, 2014 / 6:20 AM / in 3 years

AstraZeneca licenses rights to Synairgen asthma drug

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)

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