(RTTNews) - AstraZeneca (AZN.L, AZN) has agreed to transfer global rights to Eklira, and Duaklir to Covis Pharma Group. Covis will pay the company $270 million on completion. Eklira and Duaklir are inhaled respiratory medicines used for the maintenance treatment of COPD. AstraZeneca licensed the global rights to the products from Almirall in 2014.
AstraZeneca noted that the income arising from the upfront payment will be fully offset by a charge for derecognition of the associated intangible asset and as a result no other operating income will be recognised in its financial statements. The deal will not impact financial guidance for 2021, the company stated.
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