Looking for Oncology Payoff, Astellas Makes Hostile Bid for Tarceva Maker OSI
This article was originally published in PharmAsia News
Astellas Pharma is going hostile again. The Japanese drug maker launched a $3.5 billion unsolicited bid for OSI Pharmaceuticals on March 1 to gain a foothold in the oncology market
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Just days after Takeda signed a strategic alliance with Seattle Genetics for oncology antibody drug development, Astellas announced Dec. 18 a worldwide agreement with San Diego-based Ambit Bioscience to jointly develop and commercialize FMS-like tyrosine kinase-3 inhibitors for multiple oncology and non-oncology indications
The deal is the third oncology partnership agreement signed by Astellas with a U.S. biotech in as many months..
As in its Dimebon collaboration with Pfizer, the biotech gets significant U.S. profit-sharing along with an option for co-promotion.