In an effort to strengthen its respiratory disease portfolio, AstraZeneca has entered into an exclusive licensing agreement with Sino Biopharmaceutical's subsidiary, Chia Tai Tianqing Pharmaceutical Group, for TQC3721, an investigational PDE3/4 inhibitor for chronic obstructive pulmonary disease. The deal, valued at up to US$2.1 B, provides AstraZeneca with ex-China rights to the asset as well as certain future development programmes. The agreement strengthens AstraZeneca's respiratory disease portfolio while providing access to a differentiated therapy for patients who continue to experience symptoms and exacerbations despite existing treatment options.