Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Japan-based Santen Pharmaceutical has closed an asset purchase agreement which was entered on 13 May 2014 with Merck regarding the acquisition of certain ophthalmology assets, following the fulfillment of all of the transfer conditions, except in some territories, in accordance with the terms of the agreement.
Subscribe to our email newsletter
The completed acquisition concerns products primarily intended for Asia including Japan, South Korea and Europe excluding some countries.
Santen’s payment for the closed transaction totalled about $550m and total amount of consideration for the transfer, when completed as provided for under the agreement, will reach about $600m, with additional contingency payments based on certain sales milestones and an agreement to purchase product supply from Merck.
According to the company, the remaining assets will be transferred as soon as the closing conditions are fulfilled.
Santen intends to disclose separately information relating to the impact that this transaction may have on the company’s forecasted fiscal performance for the fiscal year ending on 31 March 2015.