(Alliance News) - Cambridge-based drug maker AstraZeneca PLC on Monday said it has agreed to transfer its global rights to eklira and duaklir to Swiss pharmaceutical company Covis Pharma Group.
Both medicines are delivered via the Genuair device and used for the treatment of patients with chronic obstructive pulmonary disease.
Covis will pay Astra USD270 million on completion. Covis will also cover some ongoing development costs related to the medicines. In 2020, eklira and duaklir generated revenue of USD143 million.
Astra noted that the income from the upfront payment will be fully offset by a charge for de-recognition of the associated intangible asset.
The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions and regulatory clearances.
FTSE 100-listed Astra shares were trading 0.7% higher in London on Monday morning at 9,156.32 pence each.
Also on Monday, Astra and Hutchmed China Ltd reported the launch of Sameta, a global phase III study of savolitinib in combination with PD-L1 inhibitor imfinzi, in patients with MET-driven advanced papillary renal cell carcinoma. The first patient received their first dose on October 28.
The phase III trial was initiated to evaluate the efficacy and safety of savolitinib in combination with imfinzi, compared to single agent imfinzi or single agent sutent, an oral multi-kinase inhibitor considered the standard-of-care treatment option in papillary renal cell carcinoma.
The primary endpoint of the study is median progression free survival. Other endpoints include median overall survival, objective response rate, duration of response, six-months and twelve-months disease control rate, time to second progression, safety, pharmacokinetics and quality of life.
Hutchmed China shares were up 0.3% in London on Monday morning at 439.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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