AstraZeneca enters agreement to develop Unit Dose Budesonide asthma drug

12/22/2008

NEW YORK AstraZeneca has entered into an agreement with MAP Pharmaceuticals to develop and commercialize Unit Dose Budesonide, MAP’s nebulized formulation of the asthma drug, the two companies announced Friday.

UDB, which is in phase 3 trials and designed for treating asthma in children, has the potential to be nebulized more quickly and at a lower nominal dose than other available formulations of budesonide.

Under the agreement, AstraZeneca will pay MAP an upfront cash payment of $40 million and a potential $35 million in milestone payments related to the phase 3 study. MAP may also receive up to $240 million in other development and regulatory milestones. AstraZeneca will also support and fund the establishment of a sales force for MAP to co-promote UDB in the United States for an unspecified period of time after product launch.

“MAP Pharmaceuticals’ advancement in Unit Dose Budesonide represents an important potential new option for treating children confronting asthma,” AstraZeneca CEO David Brennan said. “AstraZeneca’s heritage in treating pediatric asthma, combined with MAP Pharmacueticals’ expertise, can open new areas of opportunity for both companies and has the potential to bring significant medical benefit to the wider community.”

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