bullish
Astellas Pharma (4503 JP): New Acquisition to Add Promising Drug Candidate in New Therapeutic Area
264 Views02 May 2023 01:07
SUMMARY
- Astellas Pharma (4503 JP) is acquiring the U.S.-based clinical stage biopharmaceutical company IVERIC bio (ISEE US) for ~$5.9B. Iveric Bio focuses on the discovery and development of novel ophthalmology treatments.
- Iveric’s lead drug candidate Avacincaptad Pegol for the potential treatment of Geographic Atrophy is under FDA review with PDUFA action date of August 19, 2023.
- The acquisition will be funded by a combination of bank loan, issuance of commercial paper totaling ~¥800B, and internal cash. The acquisition is expected to complete by 3Q23 (July–September).
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Top Quartile
Tina Banerjee
Global Healthcare Analyst
Price Chart(Sign Up to Access)
- Astellas Pharma (4503 JP): Some Recent Positive Developments That Will Yield Benefit in Long-Run15 Dec 2023
- Astellas Pharma (4503 JP): Underwhelming H1 Result; Massive Cut in FY24 Profit Guidance04 Nov 2023
- Astellas Pharma (4503 JP): Mixed Q1 Result; FY24 Profit Guidance Cut; New Drug Approval07 Aug 2023
- Astellas Pharma (4503 JP): New Acquisition to Add Promising Drug Candidate in New Therapeutic Area02 May 2023
- Astellas Pharma (4503 JP): FY23 Result and FY24 Guidance Meet Expectation; New Drugs Hold Key30 Apr 2023
x