3M sells dry powder inhaler rights to Adamis

Adamis licensed 3M's Taper Dry Powder Inhaler for asthma and COPD.--Courtesy of 3M

3M ($MMM) licensed its dry powder drug delivery device for asthma and chronic obstructive pulmonary disease (COPD) to Adamis for an undisclosed amount, granting the smaller company worldwide rights to bolster its own line of delivery devices.

3M's Taper Dry Powder Inhaler uses a microstructured carrier tape to store its active pharmaceutical ingredients and can be used with single drugs or combinations, according to a release from Adamis. The device has several special features, too, including a 120-dose capacity, a dose counter display, compact design and moisture protection.

Adamis hopes to compete with GlaxoSmithKline's ($GSK) Advair Diskus with a branded generic version of 3M's inhaler, once approved. Advair Diskus boasts sales of about $5 billion in the U.S. and $8 billion worldwide in the asthma and COPD markets, according to IMS Health data. The data also indicated over $34 billion for the market overall growing at a rate of about 7%.

"There are a limited number of companies that have the capability to develop this type of novel inhalation drug delivery technology, and 3M is considered one of the leaders," Adamis CEO Dennis Carlo said in a statement. "To date, there is no low-cost alternative to Advair. We believe that the exclusive license and acquisition of the 3M Taper DPI technology provides Adamis with a blockbuster opportunity in the branded generic asthma/COPD market, where even a small market share could generate a very large potential return on investment for Adamis shareholders."

- here's the release

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