Astellas divest legacy products to Cheplapharm; drops vaccine candidate
Japan’s Astellas Pharma (TYO: 4503) has entered into an asset purchase agreement with Germany’s Cheplapharm Arzneimittel, under which Astellas will transfer the products rights for five legacy products in certain countries of Europe, Russia, Commonwealth of Independent States (CIS) and Asia.
Once the transaction closes, Cheplapharm will take over the products rights from Astellas and sell them in certain countries of Europe, Russia, CIS and Asia. Astellas will work closely with Cheplapharm to enable a smooth transition.
The value of the product sales for the year ended March 31, 2021, is 81.5 million euros ($99 million) while the financial terms of the asset purchase agreement is 95 million euros, Astellas stated.
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