AZ terminates MAP agreement

RNS Number : 4198V

AstraZeneca PLC

09 July 2009

 



ASTRAZENECA TERMINATES LICENSE AGREEMENT WITH MAP PHARMACEUTICALS REGARDING UNIT DOSE BUDESONIDE

AstraZeneca announced today that it has terminated the license agreement with MAP Pharmaceuticals, Inc., regarding Unit Dose Budesonide (UDB).  

UDB, an investigational treatment for paediatric asthma, was the subject of an initial Phase III clinical trial conducted by MAP Pharmaceuticals. On 23 February 2009, MAP announced that the trial failed to meet its primary endpoints.  

In light of the clinical trial results, AstraZeneca exercised its right to terminate the license agreement and expects to record an impairment charge of $44m in the second quarter results.

About AstraZeneca
AstraZeneca is a major international healthcare business engaged in the research, development, manufacturing and marketing of meaningful prescription medicines and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US$ 31.6 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infectious disease medicines.  For more information about AstraZeneca, please visit: www.astrazeneca.com

CONTACTS:

Media Enquiries UK:
Chris Sampson	[phone] (24 hours)
Neil McCrae	[phone] (24 hours)
Sarah Lindgreen	[phone] (24 hours)
Media Enquiries US:
David Albaugh	[phone]
Emily Denney	[phone]
Investor Enquiries UK:
Jonathan Hunt	[phone]	mob: [phone]
Karl Hard	[phone]	mob: [phone]
James Mead	[phone]	mob: [phone]
Investor Enquiries US:
Ed Seage	[phone]	mob: [phone]
Jorgen Winroth	[phone]	mob: [phone]

09 July 2009

- ENDS -

 

END

 

 

AGRCKCKKNBKDQOK