AstraZeneca builds pipeline with $232 million Synairgen asthma deal

June 12, 2014 8:31 AM

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AstraZeneca builds pipeline with $232 million Synairgen asthma deal

LONDON (Reuters) - AstraZeneca (AZN.L) has struck a deal worth up to $232 million (137.86 million pounds) in milestone payments to acquire rights to a drug from Synairgen (SYNG.L) for treating respiratory tract viral infections in patients with severe asthma.

Britain's second-biggest drugmaker - subject of a $118 billion bid by Pfizer (PFE.N) that failed last month - said on Thursday it would pay UK-based Synairgen a $7.25 million upfront fee and potential development, regulatory and commercial milestones of up to $225 million for rights to the drug, cod...

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