Please login to the form below

Not currently logged in
Email:
Password:

Otsuka to buy cancer biopharma Astex

Takes control of company behind Dacogen in $886m deal

Otsuka Pharma logoJapanese pharma firm Otsuka has agreed to purchase cancer specialist Astex Pharmaceuticals in a deal worth $886m.

Otsuka will acquire all outstanding shares of Astex for $8.50-per-share in cash to take control of a portfolio of cancer drugs and drug candidates, as well as the drug discovery platform Pyramid.

Astex' lead product is Dacogen (decitabine), which is approved for the treatment of myelodysplastic syndromes and for acute myeloid leukaemia (AML) in patients over 65 years of age.

Astex sold US commercial rights for Dacogen to Eisai and for the rest of the world to Johnson & Johnson, although still gained royalty revenues of $280m during 2012.

The company is looking to follow that success with its pipeline of cancer drug candidates, which include SGI-110, a subcutaneous therapy that affects the expression of genes. It is currently in several clinical studies assessing its effectiveness in several haematological and oncology indications, including MDS, AML, ovarian cancer and liver cancer.

Once the acquisition goes through, Otsuka will also take control of AT13387, Astex' investigational HSP90 inhibitor in development for both prostate cancer and lung cancer.

On top of these assets, Astex also has development deals with several major pharma firms, such as Novartis, AstraZeneca and J&J subsidiary Janssen, as well as the cancer charity Cancer Research UK.

This will bolster Otsuka's cancer portfolio, which is spearheaded by Sprycel (dasatinib), developed in partnership with Bristol-Myers Squibb for the treatment of Philadelphia chromosome-positive chronic myeloid leukaemia.

Otsuka also sees potential in the Astex deal beyond cancer, with Dr Taro Iwamoto, Otsuka's president, commenting that the Pyramid drug discovery platform could support the development of treatments for the central nervous system.

Article by
Thomas Meek

5th September 2013

From: Research

Share

Tags

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Nucleus Global

Nucleus Global is the largest specialist medical communications network in the world. Globally, we have over 800 experts delivering world-class...

Latest intelligence

Why big pharma needs to be braver
The last few years have seen the pharmaceutical industry undergo a rapid metamorphosis in the face of unprecedented change, but communications are one area that still needs an injection of...
Leveraging Real-World Evidence for Cell and Gene Therapies
Regulators and reimbursement bodies are increasingly turning to real-world evidence (RWE) to understand the long-term value of drugs, in particular novel therapies. Here, Mariam Bibi, Senior Director, Global RWE at...
Food Allergy – Is avoidance the only option?
Following on from Allergy Awareness Week 2022, we’re continuing the discussion about food allergies and the experiences of those who live with them. In this blog, we discuss the current...