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news.Japan's fourth-largest drug producer Eisai has agreed to buy four cancer treatments from California-based Ligand Pharmaceuticals for $205 million.
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Through the deal Eisai, known for its Alzheimer treatment drug Aricept, will acquire the exclusive global rights for Ontak, which is FDA-approved to treat persistent or recurrent cutaneous T-cell lymphoma, Targretin capsules, Targretin gel and Panretin gel. Targretin has proven effective as a treatment of cutaneous T-cell lymphoma.
Although Eisai does not currently have any cancer drugs on the market, oncology is one of its long-standing therapeutic areas of focus.
The transaction, which also involves certain Ligand personnel staff being offered employment by Eisai, is subject to government approvals and is expected to close before the end of the year.
“We believe that Eisai has a promising future in oncology and that the acquisition of these products, as well as the valuable expertise and experience of those Ligand personnel to whom employment will be offered, is a well-planned approach to market entry,” said Lonnel Coats, president and COO at Eisai.