Astellas pulls out of cell culture based influenza vaccine programs

11 January 2017

Japanese drug major Astellas Pharma (TSE: 4503) has decided to terminate the agreement executed as of September 21, 2010, with UMN Pharma (TSE:4585) for the co-development and Astellas’ exclusive commercialization of ASP7374 and ASP7373, the cell culture based influenza vaccine programs in Japan.

On the effective date of termination, Astellas will return to UMN Pharma all rights granted under the agreement. Astellas will withdraw the application for marketing approval of ASP7374 and discontinue the development of ASP7373.

The company said it will recognize the impairment losses for other tangible assets of 4 billion yen (~$8.6 million) in the first nine months after the fiscal year ending March 31, 2017. The company is still reviewing the other impact on its financial results.

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