NEWS IN BRIEF
Otsuka enters the API business after Astellas asset acquisition
Otsuka Chemical will acquire the Cefixime business from fellow Japanese firm, Astellas Pharma, which allows the former company to build on its existing antibiotic intermediates business with the addition of antibiotic active pharmaceutical ingredients (APIs).
Cefixime was developed by Astellas and is a third-generation cephalosporin antibiotic that is active against gram-positive and gram-negative bacteria. It is used to treat various conditions, including ear infections, tonsillitis, and pneumonia.
The acquisition sees Otsuka gain the rights to supply the API to overseas licensees, as well as picking up contracts belonging to the licensing business and the trademark.
Moving forward, Otsuka stated that it will strengthen the “manufacturing technology of high-quality API and their marketing and brand power to promote pharmaceutical-related business.”
The divestiture for Astellas fits in with a shift in strategy that has seen the company prioritise its ophthalmology portfolio, as well as reducing its activity in the area of antibody-drug conjugates.
Financials of the acqusitions were not revealed.