Actavis and AstraZeneca have recently announced signing a new agreement assuring that AstraZeneca will acquire the rights to Actavis’ respiratory portfolio in both Canada and the United States for an upfront payment worth $600 million upon completion, followed by low single-digit royalties above a specific revenue threshold.
After the transaction is completed, AstraZeneca will own the rights to two COPD treatments: long-acting muscarinic antagonist (LAMA) Tudorza™ Pressair™ (aclidinium bromide inhalation powder), and oral PDE4 inhibitor Daliresp® (roflumilast). The combined 2014 annual sales of these two products in the United States reached nearly $230 million dollars. In addition, AstraZeneca will own development rights to LAS40464, a fixed dose of aclidinium with formoterol, a long acting beta agonist (LAMA/LABA), for both countries. This drug has already been approved in the European Union under the market name, Duaklir® Genuair®.
An additional sum of $100 million will be paid by AstraZeneca, and contractual approvals, consents and amendments to the current collaboration between the two firms have been confirmed by Actavis.
Actavis’ president and CEO, Mr. Brent Saunders, said in a press release: “This divestiture will permit Actavis to sharpen our strategic focus and sales and marketing activities on our larger, core therapeutic categories in CNS, Women’s Health, Urology, GI, Anti-infectives and Cardiovascular, as well as in Dermatology/Aesthetics and Ophthalmology, which will be added to our global brand portfolio following the completion of the Allergan acquisition later this year. It will also enhance our options in the near term to invest in further expansion through business development or accelerate debt repayment. The decision to divest these brand respiratory products will have no impact on our commitment to investing in and developing our generic respiratory product line.”
AstraZeneca’s representative, Mr. Paul Hudson, who is the president of the U.S. branch office, stated: “Our agreement with Actavis builds on our acquisition of Almirall’s respiratory portfolio and brings long-term value to one of our key growth platforms. With the addition of Tudorza and Daliresp, we will benefit from an immediate boost to revenue in our biggest market, further strengthening our growing respiratory franchise. This combined portfolio helps us to offer an even broader range of innovative treatments and formulations to physicians and pulmonary specialists for patients suffering with COPD.”
The transaction is expected to be completely concluded within the first quarter of 2015.