AstraZeneca to Acquire Pearl Therapeutics - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

AstraZeneca to Acquire Pearl Therapeutics


AstraZeneca has entered into a definitive agreement to acquire
 Pearl Therapeutics, a privately held company based in California focused on the development of inhaled small-molecule therapeutics for respiratory disease, the company announced in a press release. The acquisition will give AstraZeneca access to a potential new treatment, which is currently in late-stage development, for chronic obstructive pulmonary disease (COPD). AstraZeneca will also gain inhaler and formulation technology that provides a platform for future combination products.

Under the terms of the agreement, AstraZeneca will acquire 100% of Pearl’s shares for initial consideration of $560 million payable on completion. In addition, deferred consideration of up to $450 million becomes payable if specified development and regulatory milestones in respect of any triple combination therapies and selected future products that AstraZeneca develops using Pearl’s technology platform are achieved. Sales-related payments of up to a further $140 million are payable if pre-agreed cumulative sales thresholds are exceeded resulting in a total potential acquisition cost of $1.15 billion. The proposed transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2013. The acquisition of Pearl Therapeutics has no impact on AstraZeneca’s financial guidance for 2013.

Pearl’s lead product, PT003, is a fixed dose combination of formoterol fumarate, a long-acting beta-2-agonist (LABA) and glycopyrrolate, a long-acting muscarinic antagonist (LAMA). LABA/LAMA combinations are expected to become an important new class of treatment for COPD. A global Phase III program has been initiated and will test the improvement in lung function in individuals with moderate to severe COPD in response to PT003. PT003 is delivered by inhalation via a pressurized metered dose inhaler (pMDI) using Pearl’s novel cosuspension formulation technology. This technology platform will allow AstraZeneca to explore combinations of existing and novel technologies, including a triple fixed-dose combination (LABA/LAMA and inhaled corticosteroid) that could be accelerated into Phase II clinical development.

“Chronic obstructive pulmonary disease continues to increase worldwide and there is a growing need for the next generation of inhaled combination products,” noted Pascal Soriot, CEO of AstraZeneca, in the press release. “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.”

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
70%
Breakthrough designations
4%
Protecting the supply chain
17%
Expedited reviews of drug submissions
2%
More stakeholder involvement
7%
View Results
Eric Langerr Outsourcing Outlook Eric LangerRelationship-building at Top of Mind for Clients
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerRisk Reduction Top Driver for Biopharmaceutical Raw Material Development
Jill Wechsler Regulatory Watch Jill Wechsler Changes and Challenges for Generic Drugs
Faiz Kermaini Industry Insider Faiz KermainiNo Signs of a Slowdown in Mergers
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Ebola Outbreak Raises Ethical Issues
Better Comms Means a Fitter Future for Pharma, Part 2: Realizing the Benefits of Unified Communications
Better Comms Means a Fitter Future for Pharma, Part 1: Challenges and Changes
Sandoz Wins Biosimilar Filing Race

Click here