TOKYO, January 24, 2023 – Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., “Astellas”) today announced that Astellas and Sandoz AG (“Sandoz”) have entered into an Asset Purchase Agreement, under which Astellas will transfer the world wide product rights for antifungal agent MYCAMINE® (micafungin sodium/product name in Japan: FUNGUARD®).
Once the transaction closes, Sandoz will acquire the rights to sell the product globally. Astellas will work closely with Sandoz to enable a smooth transition.
- Purpose of Asset Purchase Agreement
The agreement is a part of Astellas’ ongoing efforts to optimize the allocation of management resources to accommodate the rapidly changing business environment and achieve sustainable growth.
- Financial Terms of Asset Purchase Agreement
US$ 62.5 - 75 million upfront, depending on the date of the closing of the transaction, and potential sales-based milestone payments.
The financial terms of asset purchase agreement will be recorded as a gain on divestiture of intangible assets.
- Schedule of Asset Purchase Agreement
January 23, 2023: Signing of the Asset Purchase Agreement
First half of 2023: Closing of the transaction(tentative)
After closing of the transaction, the product rights for MYCAMINE® will be transferred in each country.
(Generic Name: micafungin sodium/product name in Japan: FUNGUARD®)
- Sales of the product
JPY 18.9 billion (fiscal year ended March 31, 2022)
Astellas is reviewing potential financial impacts of this product transaction for the fiscal year ending March 31, 2023.
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