AstraZeneca announced today that it has completed the acquisition of Almirall's respiratory business. As previously announced, this strategic agreement allows AstraZeneca to own the rights to develop and commercialize Almirall's respiratory portfolio, including rights from ongoing partnerships, as well as the pipeline of new research-stage therapeutics.
The products covered by the agreement include aclidinium; the combination of aclidinium with formoterol (LAMA/LABA) which has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) in Europe and is currently in development in the United States; LAS100977 (abediterol), a daily beta2 agonist (LABA) in phase II; a platform of M3 antagonists and beta 2 agonists (MABA) in pre-clinical development (LAS191351, LAS194871) and in phase I (LAS190792); as well as numerous pre-clinical programs. Almirall Sofotec, the Almirall subsidiary dedicated to the development of innovative medical devices, has also been acquired by AstraZeneca.
The consolidation of the activities in the respiratory field will translate into an immediate increase in turnover for AstraZeneca, contributing to the company's return to growth. The company expects the deal to have a neutral impact on core EPS in 2015 and incremental in 2016. The transaction will have no impact on 2014 guidance.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said: “I am delighted to welcome new colleagues from Almirall to AstraZeneca. Respiratory diseases are a key therapeutic area for our company. The combination of the two innovative portfolios further strengthens our long-term commitment to patients affected by asthma and COPD, and the broad portfolio of medicines and devices we now have will allow us to offer patients better care.”
Nicola Braggio, President of AstraZeneca Italy, said: “The conclusion of this agreement marks another important milestone for us, perfectly in line with our strategy based on growth and the achievement of scientific leadership. The availability of a richer and more innovative range of medicines will make it possible to offer important therapeutic solutions also in Italy, where millions of patients need treatment for both asthma and chronic obstructive pulmonary disease.”
Upon completion of the deal, AstraZeneca will pay Almirall an initial amount of approximately $875 million (subject to working capital adjustments), and up to $1.22 billion in subsequent stages based on the achievement of certain objectives including sales targets.
Alessandro Lattuada appointed Country Manager Italy of Almirall
Alessandro Lattuada has been appointed Country Manager Italy of Almirall SpA with the task of continuing the development of the next phase of the company's evolution in Italy.
45 years old, from Turin, with a degree in Pharmacy followed by an MBA with a specialization in finance, Lattuada joined Almirall Italia in 2009 as Marketing Director and subsequently held the role of Business Unit director in 2011. Previously he held key positions in the Sales and Marketing area of Boehringer Ingelheim.
Almirall is an international company, headquartered in Barcelona, dedicated to providing valuable therapies through its R&D, agreements and strategic alliances. Today the company is focused on three therapeutic areas: dermatology, gastroenterology and pain. Almirall's business covers the entire drug development and marketing chain.
