TOKYO, February 1, 2021 - Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., “Astellas”) today announced that its subsidiary, Astellas Pharma Europe Ltd. (“Astellas Europe”), and Tolmar International Limited (“Tolmar”) have entered into an agreement in which Astellas Europe will return the in-licensing rights to “EligardTM(leuprolide acetate for injectable suspension)” a treatment for advanced prostate cancer sold by Astellas Europe in Europe, the Middle East, the Commonwealth of Independent States (CIS)1 , and Asia, to Tolmar, and that the closing of the transaction happened on January 29.
Astellas Europe has also entered into an agreement with Recordati Industria Chimica e Farmaceutica S.p.A. (“Recordati”), who has entered into a license and supply agreement with Tolmar to commercialize EligardTM in Europe, Turkey, Russia and other territories. As a result, Recordati is taking over the Astellas position as EligardTM licensee in these territories. Astellas will provide to Recordati certain transitional services for an agreed period of time, in order to ensure a smooth transfer of the product and stable delivery to the patients.
EligardTM is a luteinizing hormone-releasing hormone (LHRH) agonist developed by Tolmar. In-licensed from Tolmar, Astellas Europe launched EligardTM in Europe in 2004 and later expanded its distribution to the Middle East, the CIS, and Asia.
The agreement with Tolmar is a part of Astellas’ ongoing efforts to improve the quality and efficiency of operations so as to accommodate a rapidly changing business environment and achieve sustainable growth. Astellas will continue to strengthen its business presence in Europe, the Middle East, CIS, and Asia through optimization of resource allocation.
The impact of this transaction on Astellas’ financial results for the fiscal year ending March 31, 2021 is expected to be minor.
Click below for a copy of the full press release