AstraZeneca PLC (AZN), a major international healthcare business, said Thursday it has terminated the license agreement with MAP Pharmaceuticals Inc (MAPP), regarding Unit Dose Budesonide, or UDB adding that it expects to record an impairment charge of $44 million in the second quarter results.

MAIN FACTS:

-UDB, an investigational treatment for paediatric asthma, was the subject of an initial Phase III clinical trial conducted by MAP Pharmaceuticals.

-On Feb. 23, MAP announced that the trial failed to meet its primary endpoints.

-In light of the clinical trial results, AstraZeneca exercised its right to terminate the license agreement.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com