Spain's Almirall licenses COPD drug to Forest Labs for $60M upfront payment

Leading Spanish-owned pharmaceutical firm Almirall has entered into an accord with US drugmaker Forest Laboratories for the development, marketing and distribution of the former's novel, inhaled, long-acting muscarinic antagonist, LAS34273, in the USA, for the treatment of chronic obstructive pulmonary disease.

Under terms of the agreement, Forest will issue an upfront payment of $60.0 million to Almirall and will make future undisclosed milestone payments. In addition, the privately-held Spanish firm will receive royalties based on LAS34273 sales. Both companies will jointly oversee the development and regulatory approval of the compound and share all expenses for current and future development programs.

A spokesperson for Almirall declined to give the Marketletter any forecasts of the sales potential for the drug, nor could she comment as to when a filing with the US Food and Drug Administration would occur.