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AstraZeneca PLC announces strategic respiratory transaction with Almirall

Wednesday, 30 Jul 2014 02:02am EDT 

AstraZeneca PLC:Says agreement to transfer to the company the rights to Almirall's respiratory franchise for an initial consideration of $875 mln on completion, and up to $1.22 bln in development, launch, and sales-related milestones.Says it will own the rights for the development and commercialisation of Almirall's existing respiratory business, including rights to revenues from Almirall's existing partnerships, as well as its pipeline of investigational therapies.Under the agreement, Almirall Sofotec, an Almirall subsidiary focused on the development of devices, will also transfer to AstraZeneca.