Astellas Sells Products for $181 MillionBy
Astellas Pharma has entered into an asset purchase agreement with LTL Pharma, a wholly-owned subsidiary of Japan Established Medicines Corporation that specializes in long-listed products (off-patent brand-name drugs), under which Astellas will transfer its marketing authorization of 16 long-listed products in Japan, its supply business of active pharmaceutical ingredients/bulk of the 16 products to third parties in Japan and outside of Japan, and its royalty business of the 16 products to LTL Pharma for 20.1 billion yen ($181 million).
As part of the agreement, the products sold by Astellas subsidiaries outside of Japan will be supplied by LTL Pharma to Astellas subsidiaries after the closing, and Astellas subsidiaries will maintain commercial responsibility. The agreement is scheduled to close on April 28, 2017. Transfer of the products will be completed by April 2020.
Source: Astellas Pharma