The British drugmaker, which resisted a $118 billion takeover attempt by Pfizer in May, said it would pay an initial $875 million and up to $1.22 billion in development, launch and sales-related milestones for access to Almirall's existing and pipeline respiratory drugs.
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"Our agreement with Almirall brings strategic and long-term value to AstraZeneca's strong respiratory franchise, one of our key growth platforms. We will benefit from immediate and growing product revenues which we anticipate will be rapidly accretive to earnings," Pascal Soriot, CEO of AstraZeneca, said in a statement.