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news.The US pharmaceutical subsidiary of Tokyo-based Eisai has reported the completion of its acquisition of four oncology related products from Ligand Pharmaceuticals for $205 million in cash.
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The companies were advised that the 30 day waiting period under the Hart-Scott-Rodino act was terminated early by the Federal Trade Commission. In the agreement, Eisai obtained exclusive global rights to Ontak, Targretin capsules, Targretin gel and Panretin gel.
In the US, Eisai assumed product distribution responsibilities as of October 25. In addition, certain Ligand personnel are being offered employment by Eisai.
“We are pleased to have completed the sale of the first of our commercial operations as part of a strategic process that we believe will enhance shareholder value,” said Henry Blissenbach, Ligand Chairman and Interim CEO.
Oncology is one of Eisai’s long-standing therapeutic areas of focus. Eisai said that the acquisition of these four oncology related products would help serve to establish the company’s oncology business as the company prepares for the introduction of its own pipeline products.