AstraZeneca and MAP Pharmaceuticals have signed a development and commercialization deal covering Phase III asthma drug Unit Dose Budesonide (UDB), MAP's nebulized formulation of budesonide. MAP gets $40 million up front and another $35 million if the drug successfully completes the ongoing Phase III clinical study. MAP Pharmaceuticals could earn up to $240 million in other milestones and as much as $585 million in sales milestones. That's a grand total of $900 million in potential payments, not including potential double-digit royalty payments on net sales of UDB worldwide. MAP and AstraZeneca will develop the drug together in the U.S., while AstraZeneca will have exclusive rights to the drug in the rest of the world.
"MAP Pharmaceuticals' advancement in Unit Dose Budesonide represents an important potential new option for treating children confronting asthma. AstraZeneca's heritage in treating pediatric asthma, combined with MAP Pharmaceuticals' expertise can open new areas of opportunity for both companies and has the potential to bring significant medical benefit to the wider community," said AstraZeneca CEO David.
- here's the release