Astex Finds A Suitable Home As Otsuka Subsidiary
This article was originally published in The Pink Sheet Daily
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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Biopharma financing in Q3 2013 totaled $4.6 billion, a 58% drop from the second quarter; Perrigo’s $8.3 billion acquisition of Elan made up more than half of the M&A dollar value; and marketed products made up the majority of licensed products.
A new life sciences hedge fund operated by two former associates of activist investor Carl Icahn is challenging Otsuka’s takeover of cancer drug developer Astex. Also, Johnson & Johnson’s London Innovation Center announced four alliances, Celgene took another option on one of its investments and Takeda teamed up with New York research institutions to form a new discovery institute.
Plus news of deals between Sanofi and Pozen, Otsuka and Astex, Santhera and Takeda, Ultragenyx and Kyowa, Baxter and Coherus Biosciences, Novartis and Regenerex, and more.