Common colds often trigger asthma exacerbations. The present study compared cold-related severe exacerbations during budesonide/formoterol maintenance and reliever therapy, and different regimens of maintenance inhaled corticosteroids (ICS), with or without long-acting b 2 -agonists (LABA), and with as-needed short-acting b 2 -agonists (SABA) or LABA.Reported colds and severe exacerbations (defined by oral corticosteroid use and/or hospitalisation/emergency room visit) were assessed for 12,507 patients during 6-12 months of double-blind treatment. Exacerbations occurring f14 days after onset of reported colds were analysed by a Poisson model. The incidence of colds was similar across treatments. Asthma symptoms and reliever use increased during colds. Budesonide/formoterol maintenance and reliever therapy reduced severe cold-related exacerbations by 36% versus pooled comparators plus SABA (rate ratio (RR) 0.64; p50.002), and for individual treatment comparisons, by 52% versus the same maintenance dose of ICS/LABA (RR 0.48; p,0.001); there were nonsignificant reductions versus higher maintenance doses of ICS or ICS/LABA (RR 0.83 and 0.72, respectively). As-needed LABA did not reduce coldrelated exacerbations versus as-needed SABA (RR 0.96).Severe cold-related exacerbations were reduced by budesonide/formoterol maintenance and reliever therapy compared with ICS with or without LABA and with as-needed SABA. Subanalyses suggested the importance of the ICS component in reducing cold-related exacerbations. Future studies should document the cause of exacerbations, in order to allow identification of different treatment effects. KEYWORDS: Asthma, drug therapy, exacerbations, respiratory tract infections A sthma is unusual amongst chronic diseases in that severe exacerbations occur even in mild or well-controlled disease. This paradox is largely attributable to viral respiratory infections causing clinical colds, which, although no more common in asthma [1], cause more prolonged and severe lower respiratory symptoms [1,2] and are responsible for 50-75% of asthma exacerbations in adults [3]. During confirmed viral infections, there is an influx of inflammatory cytokines and chemokines, and inflammatory cells, particularly neutrophils [2,4]. As asthma is common and viral respiratory infections are ubiquitous, even a low rate of exacerbations in individual patients contributes substantially to the economic burden of asthma. This is reflected in recent guidelines with increasing focus on exacerbations and costs/risks of treatment as well as on patient-centred outcomes, such as symptoms and quality of life.While the reduction in all-cause exacerbations with inhaled corticosteroids (ICS), alone or in combination with a long-acting b 2 -agonist (LABA), is well established [5], little is known about effects on coldrelated exacerbations. In the past, exacerbations have been studied with ICS reduction [6] or allergen challenge models [7], but there is increasing recognition that viral exacerbations have different clinic...