1. Patients who have had a lower respiratory tract infection within 6 weeks prior to Visit 1

2. Patients with concomitant pulmonary disease

3. Patients with a history of asthma

4. Any patient with lung cancer or a history of lung cancer

5. Patients with a history of certain cardiovascular comorbid conditions

6. Patients with a known history and diagnosis of alpha-1 antitrypsin deficiency

7. Patients in the active phase of a supervised pulmonary rehabilitation program

A Study to Assess the Safety, Tolerability and Efficacy of NVA237 Versus Placebo