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Circassia Ends AZ Deal To Dig Itself Out Of Debt Hole

Only Diagnostics Business Remains

 
• By Alexandra Shimmings

Circassia is returning the US rights to two COPD drugs to AstraZeneca as it admits it cannot meet its debt payments from the deal.    

Hand man doing finances and calculate on desk about cost at home office.
• Source: Shutterstock

Circassia Pharmaceuticals PLC is to terminate its deal with AstraZeneca PLC for the US commercial rights to the respiratory therapies Tudorza and Duaklir, handing them back to the big pharma in exchange for writing off looming loan repayments plus interest to the tune of $149.9m.

Shares in the firm rose by nearly 30% on the AIM as the biotech said it would now look forward to a debt-free future concentrating on its marketed Niox respiratory diagnostic platform

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