Japan’s Astellas to Acquire U.S. Drugmaker for 5.9 B. Dlrs
12:08 JST, May 1, 2023
Tokyo (Jiji Press)—Japanese drugmaker Astellas Pharma Inc. said Monday that it has agreed to buy U.S. biopharmaceutical startup Iveric Bio Inc. for $5.9 billion in its largest corporate acquisition.
Astellas aims to complete the acquisition of Iveric, which develops ophthalmologic drugs, in July-September following U.S. antitrust and other regulatory screenings.
Astellas will take out bank loans and issue commercial paper to finance the acquisition.
Iveric, listed on the U.S. Nasdaq market, has applied for U.S. Food and Drug Administration approval for an age-related macular degeneration drug that is expected to help maintain or restore vision. The screening is expected to finish in August.
"BUSINESS" POPULAR ARTICLE
BOJ Ueda: Japan Increasingly Likely to Hit Inflation Target
Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
Japan April-Sept. Current Account Surplus Hits Record High
Food, Beverage Price Hikes Show Signs of Easing; Fuel Prices, Consumer Frugality Slowing Down Price Rises
Japan 2023 Food Exports Reach 1 Tril. Yen at Record Pace
JN ACCESS RANKING
- BOJ Ueda: Japan Increasingly Likely to Hit Inflation Target
- Japan April-Sept. Current Account Surplus Hits Record High
- Japan 2023 Food Exports Reach 1 Tril. Yen at Record Pace