Mylan (NASDAQ: MYL ) now officially has a new product in its portfolio. The company announced that it has closed an agreement with Pfizer (NYSE: PFE ) regarding, and obtained all required regulatory approvals for, a long-acting muscarinic antagonist compound developed by the latter firm. The terms of the deal, as well as more specific information about the compound, are being kept confidential.
LAMAs are used to dilate the passages of the lungs and to relax muscles in order to improve breathing in patients with chronic obstructive pulmonary disease (COPD).
According to the terms of the arrangement, Mylan will hold exclusive commercialization rights for the compound in North America, Australia, New Zealand, the European Union, and member states of the European Free Trade Association, India, and Japan. The company and Pfizer will hold co-promotion rights to the LAMA in the rest of the world.