Kyowa Hakko Kirin subsidiary ProStrakan acquires Archimedes

6 August 2014

Japanese drugmaker Kyowa Hakko Kirin (TYO: 4151) subsidiary, the Scotland-based ProStrakan, has acquired UK drug developer Archimedes from Novo A/S, a private company fully owned by Danish Novo Nordisk Foundation, following negotiations.

The completion a follows receipt of anti-trust approvals in Germany, on which the deal was dependent. It has now purchased the entire share capital of Archimedes for $387.2 million ($652 million).

Archimedes' largest product is PecFent, a fentanyl nasal spray used in breakthrough cancer pain in patients already receiving maintenance opiod therapy for chronic cancer pain. The company specializes in pain-management, oncology and critical care. It also has a diversified portfolio of promoted and non-promoted pharma products marketed to professionals across Europe, which will expand ProStrakan's oncology and oncology-supportive care. It also expands ProStrakan's business in four of the largest European markets: the UK, France, Germany and Spain.

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