Tokyo, April 28, 2017 – Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka) announced that Astellas and LTL Pharma Co., Ltd. (Representative Director, Chairman: Sansei Oka, Representative Director, President: Jiro Mizukawa, “LTL Pharma”) confirmed the relevant closing conditions are met on April 28, 2017 to allow the transfer of the assets related to Astellas’ 16 long-listed products (the “Products”) in Japan to LTL Pharma.
On March 28, 2017, Astellas and LTL Pharma entered into an Asset Purchase Agreement, under which Astellas will transfer to LTL Pharma its marketing authorization of the Products in Japan, supply business of active pharmaceutical ingredients/bulk of the Products to third parties in and outside of Japan and royalty business of the Products.
note: The Products sold by Astellas subsidiaries outside of Japan will be supplied by LTL Pharma to Astellas subsidiaries after the closing, and Astellas subsidiaries will maintain commercial responsibility.
Astellas and LTL Pharma have now satisfied the pre-agreed conditions to close the transaction, with Astellas having received 20.1 billion yen as a result. Astellas and LTL Pharma will continue to work closely together with the aim of securing an effective transition with continued supply to patients.
Astellas reflected the impact from this closing of transaction in its financial forecasts of the current fiscal year ending March 31, 2018, disclosed on April 27, 2017.
