Astellas Wins OSI But Victory Comes At A Price
Japanese drugmaker Astellas Pharma's painstaking pursuit of OSI Pharmaceuticals is officially over. The victory came at a price, however, costing $4 billion, about $500 million more than Astellas' original hostile bid, launched in late February. That Astellas and OSI managed to find a path forward isn't surprising. Both companies had too much at stake not to see the merger come to fruition.
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Astellas Pharma US expects oncology will account for 40% of sales in three years, becoming its top business segment – significant growth for a company that just four years ago had no commercial presence in oncology. The plans rely heavily on Xtandi, suggesting it might be time to ramp up business development activity.
The Japanese pharma is consolidating its U.S. operations, including the shuttering of OSI, where Tarceva initially was developed, as the cancer drug gains another indication with a companion diagnostic.
Astellas is on the verge of significantly increasing its heretofore small presence in oncology in the U.S. and abroad as it, along with its partners, prepares to file one and possibly two NDAs, including for the promising prostate cancer treatment MDV3100.