Benzinga | Jan 5, 2022 04:55AM EST

AstraZeneca Announced Transfer of Global Rights to Eklira, Duaklir Completed; AstraZeneca Received a Payment of $270M from Covis Pharma.

AstraZeneca has completed the transfer of its global rights to Eklira (aclidinium bromide), known as Tudorza in the US, and Duaklir (aclidinium bromide/formoterol) to Covis Pharma Group (Covis Pharma).

Financial considerations

Under the terms of the agreement, AstraZeneca received a payment of $270m from Covis Pharma. AstraZeneca will also receive payments in respect of certain ongoing development costs related to the medicines. The income arising from the upfront payment will be fully offset by a charge for derecognition of the associated intangible asset and therefore no Other Operating Income will be recognised in AstraZeneca's financial statements.