AstraZeneca offered US$1.15 billion for US lung specialist Pearl Therapeutics. The company is the second in Britain to rebuild its products through deal-making.
The acquisition of Pearl Therapeutics secures AstraZeneca a position in the emerging market. Analysts in the industry think that the LABA/LAMA inhalers from Pearl will dominate future therapy for lung diseases. This will help an estimated 210 million people around the world.
On Monday, AstraZeneca said that will pay US$560 million initially. Another US$450 million if specified milestones are reached. Sales-related payments will also be added that are up to US$140 million.
The deal is expected to close by the third quarter of this year. According to the company, the said deal will have no impact on AstraZeneca's financial guidance for the year.
The backers of Pearl Therapeutics that will gain from the sale includes 5AM Ventures, New Leaf Ventures, Clarus Ventures and Vatera Healthcare Partners.
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