EU agency backs Almirall lung drug being bought by AstraZeneca
LONDON (Reuters) - A combination drug for chronic lung disease from Spain's Almirall, one of a number of respiratory medicines being acquired by AstraZeneca, has been recommended for approval by European regulators.
The two companies said on Thursday that the European Medicines Agency had endorsed the so-called LAMA/LABA product, which combines Almirall's recently launched inhaled drug Eklira, or aclidinium, with another medicine called formoterol.
Recommendations for marketing approval by the agency's Committee for Medicinal Products for Human Use (CHMP) are normally endorsed by the European Commission within a couple of months.
AstraZeneca signed a deal in July to buy Almirall's lung drugs in a bid to build up its respiratory medicine business.
The British drugmaker, which resisted a $118 billion (72.3 billion pounds) takeover attempt by Pfizer in May, will pay an initial $875 million and up to $1.22 billion more if Almirall's drugs meet development and sales targets.
AstraZeneca is due to complete the acquisition later this year.
(Reporting by Ben Hirschler. Editing by Jane Merriman)
