AstraZeneca And Astellas Enter Agreement for Co-Promotion of Symbicort Turbuhaler in Japan
Published date :04 August 2009
AstraZeneca and Astellas Pharma Inc. today announced an agreement for the co-promotion of AstraZeneca's Symbicort Turbuhaler (budesonide/ formoterol, a dry powder inhaler), for the treatment of bronchial asthma in Japan.
Under the agreement, AstraZeneca and Astellas will co-promote Symbicort Turbuhaler and Astellas will be responsible for distribution of the product. Astellas will make an upfront payment of ¥3.0 billion (about US$31.5 million at current exchange rates) to AstraZeneca in addition to milestone payments of up to ¥5.5 billion (about US$57.7 million at current exchange rates) depending on the achievement of certain sales and approval of an additional indication by the Japanese authority.
Symbicort Turbuhaler is not currently available in Japan. AstraZeneca submitted a new drug application (NDA) in Japan in May, 2007. The outcome of this submission is expected in the fourth quarter of 2009. Development is also under way for an indication to treat chronic obstructive pulmonary disease (COPD).
"We are extremely pleased to have formed this new collaboration with Astellas. Astellas has been a long time partner of AstraZeneca and has one of the strongest sales and marketing organisations in Japan," said Bruno Angelici, Executive Vice President for International Sales and Marketing. "Partnering with Astellas will ensure that we successfully launch and maximise the potential of Symbicort Turbuhaler for the roughly five million people in Japan living with asthma."