Circassia completes purchase of COPD drug rights in the USA

12 April 2017

UK biotech firm Circassia Pharmaceuticals (LSE: CIR) has completed its agreement with AstraZeneca (LSE: AZN) to buy certain US commercial rights to two chronic obstructive pulmonary disease products.

Shares in Circassia leapt almost a quarter when the company announced the transaction in mid-March.

The products, Tudorza (aclidinium) and Duaklir (formoterol fumarate dihydrate/aclidinium bromide) were purchased for a maximum total consideration of $230 million, plus sales-based royalties.

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