Heptares and Allergan sign $3.35 billion deal in neuro diseases
Hot on the heels of its abandoned $160 billion mega-merger with US pharma giant Pfizer, Ireland-domiciled Allergan (NYSE; AGN) has announced a major collaboration with Heptares Therapeutics, that could earn the latter as much as $3.35 billion, reinforcing chief executive Brent Saunders confidence as a standalone company (The Pharma Letter April 6).
UK-based Heptares, a wholly-owned subsidiary of Japan’s Sosei group (TYO: 4565) has entered into a definitive agreement under which Allergan will license exclusive global rights to a broad portfolio of novel subtype-selective muscarinic receptor agonists in development for the treatment of major neurological disorders, including Alzheimer’s disease.
Shares in Sosei, which acquired Heptares last year for as much as $400 million, rose more than 21% to 17,180 yen on news of the deal today (TPL February 23, 2015).
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze