CALIFORNIAN ACQUISITION FOR A-Z

AstraZeneca has announced that it has entered into a definitive agreement to acquire Pearl Therapeutics, a privately held company based in Redwood City, California, focused on the development of inhaled small-molecule therapeutics for respiratory disease.

A statement by the company said: “The acquisition will give AstraZeneca access to a potential new treatment for chronic obstructive pulmonary disease (COPD), currently in late-stage development, and inhaler and formulation technology that provides a platform for future combination products.”

A-Z will pay $560 million initially upon completion. However, the price can rise up to $1.15 billion, depending on sales, as well as on passing development and regulatory milestones.

“Chronic obstructive pulmonary disease continues to increase worldwide and there is a growing need for the next generation of inhaled combination products,” said AstraZeneca Chief Executive Pascal Soriot in the statement.

“Pearl`s novel formulation technology, together with its development products and specialist expertise are a great complement to AstraZeneca`s long-established capabilities in respiratory disease, one of our core therapy areas.

The acquisition is expected to complete in the third quarter of this year, subject to regulatory approvals.