Circassia Pharmaceuticals to Acquire Full Tudorza Commercial Rights in US
12 December 2018 - 12:09AM
Dow Jones News
By Adria Calatayud
Circassia Pharmaceuticals PLC (CIR.LN) said Tuesday that it will
exercise an option to acquire full U.S. commercial rights to
Tudorza, a drug for chronic obstructive pulmonary disease.
The pharmaceutical company said it has issued a notice of option
exercise to AstraZeneca PLC (AZN.LN), its partner in the
development of the drug.
Completion of the option exercise, which is expected on Dec. 31,
will trigger a $5 million payment, Circassia said. A deferred
payment of $20 million will be payable upon approval of
Duaklir--another drug for treatment of chronic obstructive
pulmonary disease-- in addition to a deferred consideration of $100
million due under the agreement between AstraZeneca and
Circassia.
Circassia shares at 1231 GMT were down 1.8% at 64.80 pence.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
December 11, 2018 07:54 ET (12:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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