Astex Finds A Suitable Home As Otsuka Subsidiary
This article was originally published in PharmAsia News
The California/U.K.-based biotech has announced plans to be acquired by Japanese pharma Otsuka in a deal that will please shareholders and provide its suitor with a slew of revenue-generating opportunities including a mid-stage pipeline, a platform technology and royalty streams.
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Otsuka and Lundbeck’s newly approved long-acting antipsychotic Abilify Maintena enters a sub-sector of the anti-psychotic market dominated by Johnson & Johnson for the last decade, but the new competitor may be able to gain ground by helping to grow the patient population.
The agency declined to approve decitabine for use in elderly patients with acute myelogenous leukemia because the pivotal study failed to demonstrate a statistically significant survival benefit in the pre-specified primary analysis. FDA’s “complete response” letter tracks with a negative evaluation by the Oncologic Drugs Advisory Committee in February.