AZN Astrazeneca Plc

LONDON--Pharmaceutical giant AstraZeneca PLC (AZN.LN) said Tuesday it has completed the acquisition of the rights to Actavis' branded respiratory business in the U.S. and Canada.

As announced on Feb. 5, the transaction strengthens AstraZeneca's respiratory franchise globally and builds on the acquisition of Almirall's respiratory portfolio in 2014 by extending the company's development and commercialization rights into the U.S. for both Tudorza Pressair and Duaklir Genuair, AstraZeneca said.

On completion, AstraZeneca will paying Actavis an initial $600 million and has agreed to pay low single-digit royalties above a certain revenue threshold.

AstraZeneca has also paid Actavis an additional $100 million for a number of contractual consents and approvals, including certain amendments to the ongoing collaboration agreements between AstraZeneca and Actavis.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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