Sunovion Pharmaceuticals has bought Elevation Pharmaceuticals, which specialises in the development of aerosol therapies for patients with respiratory diseases, in a deal potentially worth US$430 M including US$100 M upfront. The key driver of the acquisition is Elevation’s lead drug candidate EP-101, which recently reported positive Phase IIb data in patients with chronic obstructive pulmonary disease. The acquisition will strengthen and diversify the respiratory portfolio of Sunovion, which was formed in 2010 from the merger of Sepracor with Dainippon Sumitomo Pharma’s US subsidiary.