Japan’s Astellas to Acquire U.S. Drugmaker for 5.9 B. Dlrs

Astellas Pharma’s logo is pictured at its headquarters in Tokyo, Japan, December 3, 2019.
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
-
Japan’s Nissan Motor to Cut Nearly 2,000 Jobs in U.S. Plants; Will Reduce U.S. Vehicle Production by About 25%
-
Electric Plane to Ship Cargo Between Kyushu Cities in Trial Run, in Hopes of a Greener Delivery Industry
-
Fuji Media Holdings Revises Down Its Net Profit Forecast by 66%; Advertising Revenue Projected to Plummet Following Scandal
-
Japan’s Nikkei Stock Sheds over 1,000 Points in Morning (UPDATE 1)
-
Sponsors Pull Commercials on Fuji TV after Masahiro Nakai Scandal (UPDATE 1)
JN ACCESS RANKING