5th Jan 2022 08:37
(Alliance News) - AstraZeneca PLC on Wednesday completed the transfer of its global rights to Eklira and Duaklir to Swiss pharmaceutical firm Covis Pharma Group.
The Cambridge, England-based pharmaceutical and biotechnology company received a payment of USD270 million from Covis Pharma and also will receive payments for some ongoing development costs related to the medicines.
The income from the upfront payment will be fully offset by a charge for derecognition of the associated intangible asset, Astra said, therefore no other operating income will be recognised in its financial statements.
Elikra, known as Tudorza in the US and Bretaris in some other countries, and Duaklir are inhaled respiratory medicines for the maintenance treatment of chronic obstructive pulmonary disease.
Astra was up 0.2% at 8,490.68 pence on Wednesday morning in London.
By Abby Amoakuh; [email protected]
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