Teva to acquire MicroDose Therapeutx

Teva has announced the acquisition of MicroDose Therapeutx, a pharmaceutical and drug delivery company focused on inhalation technologies and products for lung diseases and infections.

The agreement has been valued at up to $165 million (105.57 million pounds), including a $40 million upfront fee and additional payments of up to $125 million based on the achievement of regulatory, developmental and sales-based milestones.

MicroDose's portfolio includes a multi-dose dry powder nebuliser device that requires no preparation and can be administered in less than 30 seconds, while its pipeline includes promising therapies for respiratory syncytial virus, asthma and chronic obstructive pulmonary disease.

Michael Hayden, president of Teva's global research and development and chief scientific officer, said: "Their addition will help us to address the unmet needs of the youngest and oldest patients who have a requirement for a better way of taking the medicines they rely upon."

This comes after the firm strengthened its commercial capabilities with the appointment of Dr Paul Sekhri as its new chief strategy officer and executive vice-president for global business development in April 2013.