The US firm is focused on bringing new medicines for patients with central nervous system (CNS) disorders.
With the acquisition, Otsuka will have access to Avanir’s clinical development and commercial expertise in neurologic diseases, NUEDEXTA capsules and the late-stage investigational compound AVP-786.
After completion of the transaction in the first quarter of 2015, Avanir will continue to operate under its current structure as an independent subsidiary of Otsuka America.
In the US, Avanir will partner with Otsuka to further improve its development and commercialisation efforts in CNS-related disorders.
Otsuka Pharmaceutical president and representative director Taro Iwamoto said: "Avanir’s creativity and proven execution on drug discovery and development for largely unexplored medical indications, typified by PBA, represents a hand-in-glove fit with Otsuka’s culture."
In February 2011, Avanir launched NUEDEXTA (dextromethorphan hydrobromide/quinidine sulfate) 20mg/10mg capsules in the US as a treatment for the neurologic disease pseudobulbar affect (PBA).
AVP-786 is currently being prepared to enter Phase III clinical trials to treat agitation associated with Alzheimer’s disease.
Avanir Pharmaceuticals president and chief executive officer Keith Katkin said: "Together, our organizations will be able to more rapidly develop and commercialize needed medications for patients around the world."
Image: Otsuka’s $3.5bn acquisition of Avanir is expected to be completed in the first quarter of 2015. Photo: courtesy of adamr/ freedigitalphotos.net