Tuesday, September 27, 2022
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AstraZeneca to Transfer Some Global Drug Rights to Covis Pharma

On Monday, 1st November 2021, AstraZeneca said, it is going to be transferring the global rights for the respiratory medicines including Duaklir and Eklira to the Covis Pharma Group for a deal of 270 million dollars as AstraZeneca is looking to offload the company’s old portfolio of the medicines.

The company ‘AstraZeneca’ also said, under the deal, that is expected to be closed in the fourth quarter of the year 2021, the Covis Pharma is also going to be covering some currently going development costs that have been related to the medicines.

AstraZeneca, which is having many new medicines in the company’s pharmaceutical pipeline, which includes novel corona virus drugs and a vaccine, has been expecting the agreement for providing help in sharpening the focus of the company on the priority medicines in the immunology and respiratory portfolio of AstraZeneca.

The company ‘Covis Pharma’ had also acquired the rights to the other respiratory medicines including Alvesco, Omnaris and Zetonna for the company ‘AstraZeneca’ in the year 2018. The Eklira and Duaklir, which are mostly used for the treatment of the chronic obstructive pulmonary disease (COPD) had successfully generated the revenues of 143 million dollars for the company in the regions that have been covered by a past deal when the company had acquired the rights.