Japan

Shionogi paying $1.4B to acquire Sciele

John Carroll — Tue, 02 Sep 2008 11:40:47 -0400

Shionogi has joined a lineup of Japanese pharma companies turning to buyouts as a central method for diversifying their companies and prospects. Shionogi is paying $1.4 billion to buy Atlanta-based Sciele Pharma. At $31 a share, Shionogi's bid is a 61 percent premium over Friday's close. Sciele develops and sells therapeutics for cardiovascular and metabolic diseases, infectious diseases and immunological disorders and cancer and related chronic pain. While the bulk of its organization is involved in sales, Sciele also has an active R&D program.

"This acquisition will give us a strong platform in the United States to launch products that are currently in the Shionogi and Sciele pipelines," says Shionogi's Dr. Isao Teshirogi.

Japanese healthcare companies have spent more than $17 billion in acquisitions so far this year.

- check out Shionogi's release
- read the report from the Financial Times
- here's the report from Tech Journal South

ALSO: With Gilead Sciences soon to be the last independent big-cap biotech left in San Francisco, the local newspaper wonders when it too will be bought out. Report

Takeda gains RNAi tech with $1B Alnylam deal

Tue, 27 May 2008 06:59:58 -0400

Takeda's quest to expand in the U.S. market--and off-set expiring patents on big drugs--continues. The Japanese company announced today a $1 billion alliance with RNAi company Alnylam. The deal covers RNAi therapeutics in the fields of oncology and metabolic disease with the option to expand to additional therapeutic areas in the future. Alnylam gets $100 million in up-front and additional $50 million in near-term technology transfer payments. Takeda can expand the partnership in the future to include additional fields, with a payment of $50 million to Alnylam for each additional field. Finally, Alnylam will receive $171 million in milestones, along with royalties, for each product developed as part of the deal.

"We believe this alliance will accelerate our initiatives to establish the foundation for RNAi drug discovery supported by Alnylam's platform technologies and know-how. We expect that our product portfolio will be enhanced by the addition of RNAi therapeutics to our current small molecule and anti-body research platforms," said Takeda's president Yasuchika Hasegawa. Just two months ago Takeda forked over $8.8 billion dollars to buy Millennium Pharmaceuticals, bolstering its oncology pipeline.

- here's Takeda's release
- read the Wall Street Journal article for more

Astellas faces new delay for Advagraf approval

Wed, 07 May 2008 06:59:54 -0400

Japan's Astellas Pharma has run into a new roadblock in its pursuit of regulatory approval of Advagraf, its second generation version of the blockbuster transplant drug Prograf. The FDA has raised questions about the safety and efficacy of the drug for use in liver transplants. Last March the FDA issued an action letter regarding Advagraf for kidney transplants. The agency's action letters typically mean at least a six month delay before regulators will approve it.

Advagraf is already approved in Europe. Prograf earned $2 billion in sales last year.

- read the story in Yahoo News

Arana gains development partner for cancer program

Thu, 24 Apr 2008 06:59:54 -0400

Australia's Arana Therapeutics has struck a deal to co-develop an experimental colorectal cancer therapy with Japan's Kyowa Hakko Kogyo. Arana will receive up to $8 million in the joint venture and the two companies will split ownership of ART104. The developers will split the development costs, with the Japanese company contributing technology to the program. Kyowa has rights to commercialize the therapy in some Asian markets.

- see the release
- check out the report from AFX

Pfizer lands schizophrenia drug in $22M deal

Mon, 07 Jan 2008 06:59:57 -0500

Japan's Taisho has granted all commercial rights to its preclinical schizophrenia drug outside of Japan to Pfizer for $22 million up front. TS-032 is an mGluR agonist, which promises to influence the transmission of substances in the brain that is associated with schizophrenia. Taisho is an experienced player in the psychiatric drugs market. The Japanese company also stands to gain unspecified milestone payments for the drug.

- see this release
- read the AP report

Related Articles:
Lilly bows out of diabetes deal with Taisho. Report
New therapy found for schizophrenia. Report

Eisai expands U.S. ops with $3.9B MGI buyout

Mon, 10 Dec 2007 06:59:58 -0500

A little over a week after announcing that it would explore its "strategic alternatives," MGI Pharma announced that Japan's Eisai had agreed to buy the company for $3.9 billion, a 23 percent premium over the December 7 close. For Eisai, which will lose patent protection for its bestselling drug Aricept in 2010, the news marked the latest in a string of oncology deals, including the $325 million acquisition of Morphotek in April. Earlier, Eisai also paid $205 million for four oncology therapies from Ligand Pharmaceutical.

MGI's two biggest sellers are Dacogen and Aloxi. The biotech has 10 development programs underway for everything from preclinical therapeutics to late-stage studies on approved medications. One of the winners in today's announcement: Carl Icahn, who snapped up $17.8 million in MGI shares even as one analyst was downgrading the biotech. For Eisai, it's another big stride into the U.S., where it is building a new research and development center.

- see this release
- read the report from the Wall Street Journal

ALSO: Adams Respiratory Therapeutics is being acquired by the Reckitt Benckiser Group for $2.3 billion. Release

Related Articles:
Lehman helps MGI study its 'strategic alternatives'. Report
Eisai acquires Morphotek in $325M deal. Report
Eisai plans $105M expansion in NC. Report

Astellas inks $537M deal for Agensys

Tue, 27 Nov 2007 06:59:58 -0500

Japan's Astellas has forged a deal to buy Santa Monica, CA-based Agensys for $387 million plus up to $150 million more in milestones. The deal gives Astellas new antibody technology for combating cancer. Agensys has a Phase Ib trial underway for one antibody plus several more preclinical candidates. Astellas is betting that antibodies will play an ever-growing role in cancer treatments, which are expected to command a $32 billion market by 2015.

"Agensys will be the cornerstone of our biologics efforts and an integral component of building our oncology efforts within our franchise," explained Masafumi Nogimori, CEO of Astellas.

- see this release for more
- check out the report on the deal

Related Articles:
Astellas faces FDA delay on reformulated Prograf. Report
Cardiome, Astellas get panel date. Report
Agensys gains $41M in venture funds. Report

AEterna gets its ducks in a row

Wed, 03 Oct 2007 06:59:54 -0400

Executives at AEterna Zentaris have taken a good, long look at the company's pipeline and operations and have identified a number of changes that will take place.

Cetrorelix, currently in a Phase III program for benign prostatic hyperplasia, is AEterna's highest priority. The company also plans to move into Phase IIb trials for the endometriosis indication of the drug.
AEZS-108, a cytotoxic conjugate, is AEterna's highest earlier-stage priority, and will therefore. Phase II trials of the drug both endometrial and ovarian cancers will get underway this year. The company also prioritized early-stage drug candidates.
All projects will be developed internally through proof-of-concept in man, but non AEterna will look to unload non-core assets.
Asia (especially Japan) remains a market of interest for AEZS.

- see this release from AEterna

Related Articles:
AEterna files iNDA. Report
AEterna Zentaris announces ZEN-012 data. Report
AEterna regains rights to Cetrorelix. Report

ALSO NOTED: GSK to commercialize Lunesta; second headline; and much more...

Tue, 11 Sep 2007 06:59:50 -0400

> GlaxoSmithKline has signed on to commercialize Sepracor's insomnia drug Lunesta, agreeing to pay $20 million up front and up to $155 million in total for milestones and licensing fees. Glaxo gains the rights to all countries except the US, Canada, Mexico and Japan. Glaxo is looking for European approval of the drug--dubbed Lunivia outside the U.S.--in the second half of next year. FiercePharma

> Arena Pharmaceuticals stock got a bump this morning when researchers found no sign of heart valve damage after six months of Phase III testing for its obesity drug Lorcaserin. Release

> Evotec has sold its Chemical Development Business to Aptuit for about $63 million in cash. Release

> As part of its overall restructuring, Pfizer will shut down its 53-year-old manufacturing facilities in Sandwich, England, shedding some 400 jobs in the process. FiercePharma

And Finally... According to new research from the Institute for Safe Medication Practices, the FDA received reports of 89,842 adverse events including 15,107 deaths in 2005, more than double the 1998 numbers of 34,966 reports and 5,519 deaths. Report

ALSO NOTED: MonoSol Rx sets IPO; Entelos buys Iconix; and much more...

Thu, 30 Aug 2007 06:59:50 -0400

> MonoSol Rx has set the terms on an IPO of four million shares. The offering is expected to raise up to $70 million if its hits its range of $16 to $18 a share. Report

> Entelos has inked a deal valued at $14.1 million to buy Iconix Biosciences, a predictive toxicology company, in an all-share transaction. "By combining our powerful approaches to better understand efficacy, safety, and new drug uses, the expanded company will be well positioned to take advantage of the synergies and achieve greater commercial success," said Iconix CEO Jim Neal. Release

> Eli Lilly Japan and Takeda Pharmaceutical have axed a deal for the joint development and co-marketing of ruboxistaurin mesylate in Japan after deciding that the diabetes therapy didn't qualify for a Phase III trial. Release

> Sweden's Karo Bio has provided an update on its pipeline programs. Release

> Vermillion--a diagnostic test maker--has closed a private placement for $20 million. Report

> CytoGenix has broken ground on a 20,000 square foot facility to house its offices, laboratory and DNA production plant. Release

> The NIH's new asthma treatment guidelines could be good news for drug companies. FiercePharma

> Four women are suing Sanofi-Aventis for sex discrimination in U.S. federal court. FiercePharma

> Researchers from Geron and the University of Washington have completed new animal studies that offer fresh evidence of the ability of embryonic stem cells to repair the damage done by a heart attack. FierceBioResearcher

And Finally… Dunkin' Donuts says it is eliminating trans fats from its food after developing an alternative cooking oil. Somebody pass me a donut. Report (WSJ sub. req.)