Forest Laboratories Holdings, Ltd., a wholly owned subsidiary of Forest
Laboratories, Inc. (NYSE: FRX) and Almirall, S.A. (ALM.MC) today
announced that they have entered an agreement to develop, market and
distribute LAS100977 in the United States. LAS100977 is an inhaled,
once-daily administered long-acting beta2 agonist (LABA) that until now
has been developed by Almirall to treat bronchoconstriction in asthmatic
patients. Forest and Almirall will develop LAS100977 in combination with
an undisclosed corticosteroid using Almirall’s proprietary GENUAIR®
inhaler for the treatment of both asthma and Chronic Obstructive
Pulmonary Disease (COPD).
Under the terms of the agreement, Forest will make an upfront payment to
Almirall of $75 million and will pay future, undisclosed milestone
payments and sales based royalty payments. Forest will assume
responsibility for the United States regulatory approval and
commercialization.
"We are very pleased with this new agreement. Extending our
collaboration with Forest is an excellent opportunity to maximize the
value of LAS100977 for patients and investors," said Jorge Gallardo,
Chairman and Chief Executive Officer of Almirall. "Forest has first
class development and commercial capabilities and both parties can
leverage from the current EKLIRA® (aclidinium bromide)
collaboration to move forward these exciting respiratory compounds. This
agreement is also a milestone in our aim to offer society innovative
medicines to fulfill unmet medical needs,” he added.