This is a one year study evaluating the efficacy of a combination bronchodilator/corticosteroid inhaler in reducing the number of exacerbations of bronchitis or pneumonia in patients with COPD. There is no placebo in this study.

Major Inclusion/Exclusion Criteria

• Ages equal to or greater 40 years old
• 10 pack year smoking history (current or former smokers)
• Diagnosis of COPD
• Exacerbation of COPD in the last 12 months that required either oral corticosteroids, antibiotics, and/or hospitalizations