Astellas views options for Prosidion subsidiary, including its sale

11 January 2011

Japanese drug major Astellas Pharma (TSE: 4503) says that it has engaged Citigroup Global Markets to conduct, in conjunction with executive management, a review of the company's strategic alternatives with regard to its Prosidion subsidiary, which was acquired as part of Astellas' $4 billion purchase of USA-based OSI Pharmaceuticals last year (The Pharma Letter May 4, 2010).

The main attraction of the acquisition, which at $3.5 billion was initially rejected, was OSI’s Tarceva (erlotinib), a leading cancer drug which was sold in partnership with Roche’s Genentech unit.

Assets include diabetes and obesity drug candidates

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