TOKYO, May 16, 2017 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, "Astellas") today announced that it has completed the acquisition of Ogeda SA (formerly named Euroscreen SA, "Ogeda"), a drug discovery company located in Gosselies, Belgium, and Ogeda has become a wholly owned subsidiary of Astellas as of CET May 17, 2017.
Under the share purchase agreement executed between Astellas and Ogeda shareholders, Astellas paid EUR 500 million to acquire 100% of the equity in Ogeda. In addition, Ogeda shareholders will become eligible to receive up to EUR 300 million in further contingent payments based on progress in the development of fezolinetant, Ogeda's most advanced clinical program for the treatment of menopausal-related vasomotor symptoms.
This transaction expands Astellas' late stage pipeline and is expected to contribute to its mid-to-long term growth.
Astellas reflected the impact from this closing of transaction in its financial forecasts of the current fiscal year ending March 31, 2018
Astellas Pharma Inc., based in Tokyo, Japan, is a company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. We focus on Urology, Oncology, Immunology, Nephrology and Neuroscience as prioritized therapeutic areas while advancing new therapeutic areas and discovery research leveraging new technologies/modalities. We are also creating new value by combining internal capabilities and external expertise in the medical/healthcare business. Astellas is on the forefront of healthcare change to turn innovative science into value for patients. For more information, please visit our website at www.astellas.com/en.
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.
Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/astellas-completes-acquisition-of-ogeda-sa-300458739.html
SOURCE Astellas Pharma Inc.