AstraZeneca Sells Two Almirall Drugs For 233 Million

AstraZeneca gets rid of two drugs purchased from Almirall seven years ago. The British pharmaceutical company has sold the drugs Eklira and Duaklir to Covis for 233 million euros to be marketed worldwide. Both drugs, indicated for COPD, require for their administration a device that the Spanish company also sold to AstraZeneca: Genuair. The deal will close before the end of the year.

The transaction itself has no economic impact for Almirall, but the same agreements signed in the past are maintained. For this reason, the Spanish pharmaceutical company will continue to receive payments for regulatory or commercial milestones as well as royalties from the sales of products. In addition, it can be expected that Covis will give a boost to the sales of these drugs, since in 2018 it began to buy part of the respiratory area from AstraZeneca, an operation that continues with the purchase announced yesterday.

During the past year, the drugs sold 143 million dollars, according to AstraZeneca. The Spanish stock market has positively valued the operation for Almirall. In a context of generalized increases, the pharmaceutical scale almost 3%.

The respiratory area was one of the pillars of the Spanish company at the beginning of the last decade. However, the company decided to specialize in the area of ​​medical dermatology and one of the major decisions made as a result of the change in strategy was the sale of this business. In 2014 they signed the transfer with AstraZeneca in exchange for 1,500 million euros.

Since then, the company has been developing its new portfolio, which is now beginning to see the light of day in the markets. The new batch, with Klisyri and Seysara at the head, are called to replace the sales harvested by Aczone, whose commercial path begins to deteriorate due to the arrival of generic drugs.

Another good news about these drugs is that Seysara will be manufactured in Spain. The new medical dermatology antibiotic will be made in Barcelona to supply the United States market. Almirall already has FDA authorization to develop it in Sant Andreu de la Barca.

Box after Caelum
Just over a month ago, AstraZeneca decided to undertake the purchase of the pharmaceutical company Caelum to strengthen its portfolio of orphan drugs. In that operation, the British multinational spent some 500 million dollars, an amount that it managed to partially recover yesterday with the sale of a part of the respiratory business it owns.

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