Astellas Seeks To Gain Technology Strength By Foreign Acquisitions (Japan)
This article was originally published in PharmAsia News
Astellas Pharma Co-Chairman Hatsuo Aoki does not feel it necessary for his company or another Japanese pharmaceutical company to try to become one of the world's largest and will not attempt it. Aoki said the firm does plan to expand this year, however, by seeking mergers and acquisitions to provide it with the technological skills needed to compete on a global scale. But Aoki said in an interview that Astellas is comfortable with its current size and "we no longer have to pursue the merit of scale." He said larger Japanese firms such as Astellas would be looking to buy foreign businesses rather than local ones, to give them access to "breakthrough technologies and promising candidate drugs." (Click here for more - may require a subscription
You may also be interested in...
Purdue pleads guilty to three felony charges over marketing of OxyContin under settlement that requires Purdue to be dissolved and transformed into an entity that provides addiction and overdose medicines. Twenty-five state AGs oppose creation of a PBC, arguing Purdue should be sold to another company.
Abbott reported strong sales for diagnostics and devices in the third quarter and raised its full-year EPS guidance to $3.55 per share.
Vifor CEO Stefan Schulze tells Scrip that an expanded deal with Korsuva developer Cara Therapeutics means the US biotech will not have to invest in a commercial organization as the Swiss firm will mobilize its well-established sales force to launch the treatment for dialysis patients with CKD-associated pruritus.