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).
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.