AstraZeneca signed an agreement with Sino Biopharmaceutical subsidiary CTTQ to license ex-China rights to TQC3721, a dual PDE3/4 inhibitor for chronic obstructive pulmonary disease. Under the deal, AstraZeneca pays $200 million upfront and could add up to $1.9 billion in development, regulatory, and sales milestones, with tiered royalties tied to net sales after launch. The move adds to AstraZeneca’s COPD portfolio following a PDE3/4 class validation path and underscores continued cross-border acquisition of late-stage respiratory candidates as competition for progressive lung indications intensifies.