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news.Royalty Pharma has acquired all patents and royalty rights associated with dipeptidyl peptidase IV (DPP-IV) inhibitors for the treatment of diabetes from Astellas Pharma subsidiary Prosidion for $609m.
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As per the terms of the deal, Prosidion is responsible to pay 100% of royalty payments and milestones for DPP-IV to Royalty Pharma.
Additionally, Royalty Pharma will completely acquire administration of the DPP-IV patent estate currently owned by Prosidion.
Astellas president and CEO Yoshihiko Hatanaka said the sale of Prosidion’s DPP-IV patent estate and royalty stream supports their strategic goal of maximizing value for Astellas’ shareholders.
Royalty Pharma CEO Pablo Legorreta said by partnering with Royalty Pharma, acquirors can reduce the amount of capital spent to acquire strategic, value-creating assets and, in doing so, preserve capital to fund other strategic acquisitions or its internal pipeline.