Jones Lang LaSalle

Daiichi to Acquire Astellas OTC Unit for $200 Million

Astellas Pharma Inc. said today it agreed to sell its over-the-counter company Zepharma Inc. to Daiichi Sankyo Co., Ltd. for $200 million. Astellas will receive additional payments later.

The transaction is expected to close April 13. Zepharma was established in October 2004, as a joint venture of Yamanouchi Pharmaceutical Co., Ltd. and Fujisawa Pharmaceutical Co., Ltd.

Zepharma achieved its target of operational profitability from the beginning, but its business did not reach a point that allowed it to be competitive in the Japanese OTC market. Daiichi Sankyo was established last December and will become operational April 3.

Astellas also said today it concluded a license deal with Toyama Chemical Co., Ltd. for the marketing and joint development of oral formulations of the new-type quinolone antibiotic T-3811 discovered by Toyama. The companies signed on the deal in January. Taisho Toyama and Astellas will jointly promote the products under the same brand name. Astellas will handle sales and distribution.