Covis Pharma takes over AstraZeneca’s COPD medicines Eklira and Duaklir for $270 million

Covis Pharma takes over AstraZeneca’s COPD medicines Eklira and Duaklir for $270 million

Agreement sharpens AstraZeneca’s focus on priority medicines in Respiratory & Immunology portfolio

(PRESS RELEASE) CAMBRIDGE, 1-Nov-2021 — /EuropaWire/ — AstraZeneca (LON: AZN), a British-Swedish multinational pharmaceutical and biotechnology company, has announced it sold the global rights of its chronic obstructive pulmonary disease (COPD) medicines known as Eklira (In US as Tudorza) and Duaklir to Covis Pharma Group, a leading global specialty pharmaceutical company, for $270 million (EUR 233 million).

Both medicines are delivered via the Genuair device and used for the treatment of patients with chronic obstructive pulmonary disease (COPD).

The agreement will ensure continued patient access to these established medicines.

Covis Pharma previously acquired the rights to the respiratoryn medicines Alvesco, Omnaris and Zetonna from AstraZeneca in 2018.

Financial considerations
Covis Pharma will pay AstraZeneca $270m on completion. Covis Pharma will also cover 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. In 2020, Eklira and Duaklir generated AstraZeneca revenue of $143m in the countries covered by this agreement.

The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions and regulatory clearances. The agreement will not impact the Company’s financial guidance for 2021.

Eklira and Duaklir
Eklira (aclidinium bromide) and Duaklir (aclidinium bromide/formoterol) are inhaled respiratory medicines used for the maintenance treatment of COPD. 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