AstraZeneca completes $2.1bn takeover of Almirall franchise

 
Tom Beck
Pascal Soriot is AstraZeneca's chief executive (Source: Getty)
UK drug giant AstraZeneca yesterday completed its acquisition of rights for Spanish pharmaceutical firm Almirall’s respiratory franchise.

The $2.1bn (£1.3bn) deal gives AstraZeneca ownership of the development and commercialisation of the business which includes drugs like Eklira, Duaklir Genuair and treatments for illnesses such as asthma and chronic obstructive pulmonary disease.

AstraZeneca said the deal would be neutral to earnings in 2015, accretive from 2016 and has no impact on AstraZeneca’s guidance for 2014.

“Respiratory disease is one of our company’s key therapeutic areas, and the combination of these exciting portfolios reinforces our long-term commitment to patients with asthma and chronic obstructive pulmonary disease,” said AstraZeneca chief executive Pascal Soriot.

“Our expanded product and device offering will enable us to bring better treatment options to patients.”

Almirall president Jorge Gallardo said: “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.”

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