Otsuka to acquire US antibody company
Otsuka Pharmaceutical (TYO: 4578) has signed an agreement to acquire privately-held US biotech Visterra, pushing the Japanese drug major’s share up 2.05% at 4,975 yen in Tokyo trading today.
The purchase price is around $430 million in an all-cash transaction. The Otsuka and Visterra boards of directors have approved the transaction. Subject to customary closing conditions, including expiration or termination of the waiting period under US antitrust laws, the transaction is expected to close in the third quarter of 2018.
This is the second acquisition for Otsuka in a matter of days; on Wednesday it announced it is buying medical device maker ReCor Medical for an undisclosed price.
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