Barcelona, 3rd November 2014
Almirall today announced that, effective November 1st, it has completed the transaction to transfer to AstraZeneca the rights of Almirall's respiratory franchise after all closing conditions have been satisfied. AstraZeneca will now own the rights for the development and commercialization of Almirall's existing proprietary respiratory business, including rights to revenues from Almirall's partnerships, as well as its pipeline of investigational novel therapies. The franchise includes Eklira® (aclidinium); Duaklir®, the combination of aclidinium with formoterol (LAMA/LABA) that has received a positive opinion from the CHMP in the EU and is being developed in the US; LAS100977 (abediterol), a once-daily long-acting beta2-agonist (LABA) in Phase II; an M3 antagonist beta2-agonist (MABA) platform in pre-clinical development (LAS191351, LAS194871) and Phase I (LAS190792); and multiple pre-clinical programmes. Almirall Sofotec, an Almirall subsidiary focused on the development of innovative proprietary devices, also transfers to AstraZeneca.
Almirall announced this strategic transaction on July 30th, which includes an upfront cash consideration upon completion of $875 million and, additionally, up to $1.22 billion related to development, launch, and sales-related milestones. AstraZeneca has also agreed to make various sales-related payments.
Jorge Gallardo, President of Almirall said: "This global collaboration will allow us to maximize the potential value of our exciting respiratory franchise and AstraZeneca is the perfect partner to do this. Moreover, the deal has given us a strong financial baseline to accelerate our strategy and to start focusing our resources in becoming a top Dermatology global player with an additional interest in other specialist driven areas. Excellence in R&D will remain a key part of Almirall's business going forward and we are confident that this agreement will make a significant contribution to the company's long-term growth."
Almirall is a global company based in Barcelona dedicated to providing valuable medicines through its R&D, agreements and alliances. Our work covers the whole of the drug value chain. A consolidated profitable growth allows us to devote our talent and efforts in the dermatology area, with an additional interest in other specialist driven areas. Our size enables us to be agile and flexible so that we can accomplish the purpose of taking our innovative products wherever they are needed.
Founded in 1943, Almirall is listed on the Spanish Stock Exchange (ticker: ALM) and it has become a source of value creation for society due to its vision and the commitment of its long-standing major shareholders. In 2013, its revenues totaled 825 million euros and, with more than 3,000 employees, it has gradually built up a trusted presence across Europe, as well as in the US, Canada and Mexico.
For more information please visit www.almirall.com
Media contact: Investors Relations contact:
Cohn & Wolfe Almirall
Adriana Ibargüen Pablo Divasson
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