AZ acquires rights to Actavis' COPD drugs
AstraZeneca plc (LSE:AZN; NYSE:AZN) obtained rights in the U.S. and Canada to the respiratory franchise of Actavis plc (NYSE:ACT). AZ will pay Actavis $600 million up front in the deal, plus a $100 million payment for contractual changes to the companies' ongoing collaboration. Actavis is eligible for low single-digit royalties above an undisclosed revenue threshold. Neither company responded to inquiries about the contractual changes.
The deal covers three treatments for chronic obstructive pulmonary disease (COPD). It includes U.S. and Canadian rights to Tudorza Pressair aclidinium bromide and development rights to LAS40464, approved in Europe as Duaklir Genuair, as well as U.S. rights to Daliresp roflumilast. Tudorza Pressair and Daliresp had combined U.S. sales of $230 million in 2014. ...