UK biotech firm Circassia Pharmaceuticals (LSE: CIR) today announced that it is exercising its option to acquire the full US commercial rights to Tudorza (aclidinium) from AstraZeneca (LSE: AZN).
Circassia currently promotes the chronic obstructive pulmonary disease (COPD) treatment in the USA under a profit share arrangement established by the two companies in April 2017. Circassia anticipates completing the option exercise on December 31, 2018.
Following the news, Circassia’s shares closed down 5.61% at 62.30 pence, while AstraZeneca’s shares were up 1.90% at £61.21.
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