AstraZeneca completes the transfer of Eklira/Tudorza and Duaklir global rights to Covis Pharma Group for $270 million

AstraZeneca completes the transfer of Eklira/Tudorza and Duaklir global rights to Covis Pharma Group for $270 million

(PRESS RELEASE) CAMBRIDGE, 5-Jan-2021 — /EuropaWire/ — AstraZeneca (LON: AZN), a British-Swedish multinational pharmaceutical and biotechnology company, has announced the completion of the transfer of its global rights to Eklira (aclidinium bromide), popular as Tudorza in the US, and Duaklir (aclidinium bromide/formoterol) to Covis Pharma Group (Covis Pharma).

Financial considerations
Under the terms of the agreement, AstraZeneca received a payment of $270m from Covis Pharma. AstraZeneca will also receive payments in respect of certain ongoing development costs related to the medicines. The income arising from the upfront payment will be fully offset by a charge for derecognition of the associated intangible asset and therefore no Other Operating Income will be recognised in AstraZeneca’s financial statements.

Notes

Eklira and Duaklir
Eklira (aclidinium bromide) and Duaklir (aclidinium bromide/formoterol) are inhaled respiratory medicines used for the maintenance treatment of chronic obstructive pulmonary disease. Eklira is a long-acting muscarinic antagonist (LAMA), which is marketed in the US as Tudorza and in some countries as Bretaris.

Duaklir is a combination therapy that contains both a LAMA and a long-acting beta2-agonist (LABA). It is marketed in some countries as Brimica.

Both medicines are presented as a dry powder for inhalation and are delivered via a breath-actuated multi-dose dry powder inhaler, Genuair (Pressair in the US). AstraZeneca licensed the global rights to both products from Almirall S.A. in 2014.

AstraZeneca
AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.

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SOURCE: AstraZeneca PLC