19 June 2013 - Teva Pharmaceutical Industries (NYSE:TEVA), an Israel-based pharmaceutical company, has signed a contract to acquire MicroDose Therapeutx, a pharmaceutical and drug delivery company.

It was yesterday that the agreement has been signed to strengthen Teva Pharmaceutical Industries's respiratory franchise. The contract includes acquisition of all of MicroDose's outstanding shares by Teva Pharmaceutical Industries.

The deal is valued at USD40m at closing, USD125m additional payments on reaching regulatory and development milestones, in addition to sales-based milestones and tiered royalty payments on commercialisation of MDT-637.