Japan's Astellas Pharma said on Monday it agreed to buy U.S.-based drugmaker IVERIC Bio Inc for about $5.9 billion in its biggest acquisition, giving it access to a range of ophthalmology treatments.
Astellas Pharma's logo is pictured at its headquarters in Tokyo, Japan, December 3, 2019. REUTERS/Kim Kyung-Hoonsaid on Monday it agreed to buy U.S.-based drugmaker IVERIC Bio Inc for about $5.9 billion in its biggest acquisition, giving it access to a range of ophthalmology treatments.
Through Berry Merger Sub Inc, a wholly-owned subsidiary of Astellas U.S. Holding, the Japanese company agreed to acquire IVERIC for $40 per share in cash, Astellas said in a release.The Japanese drugmaker has been aggressively chasing cross-border acquisitions for new treatments in recent years, announcingin late 2019 to buy U.S. biotech Xyphos Biosciences for up to $665 million and Audentes Therapeutics Inc for about $3 billion.
Prior to that, its biggest ever acquisition was its $3.8 billion purchase of OSI Pharmaceuticals Inc in 2010.
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