Global healthcare company LEO Pharma has entered into an asset purchase agreement with Japanese pharmaceutical company Astellas Pharma under which Astellas will transfer its global dermatology business to LEO Pharma for €675 million.
Under the terms of the agreement, the assets and associated responsibilities relating to Astellas’ global portfolio of dermatology products—including Protopic for eczema, Locoid and Locobase for skin care, and Zineryt for acne—will be transferred to LEO Pharma (except for Protopic in Japan).
“This is a historic milestone for LEO Pharma and will be instrumental in our efforts to help even more people living with skin diseases. We are excited about this opportunity and look forward to working closely with Astellas to ensure a seamless transfer of the portfolio,” said Gitte Aabo, CEO and president of LEO Pharma. “With our expanded portfolio, we will be able to offer patients an even wider range of treatment solutions to meet their individual needs. For LEO Pharma, leading in dermatology care is about making a real difference to people’s everyday lives.”
The closing of the transaction is anticipated in the first quarter of 2016.
