Tokyo, Japan and Ballerup, Denmark, April 1, 2016 - Astellas Pharma Inc. (TSE: 4503, President and CEO: Yoshihiko Hatanaka, “Astellas”) and LEO Pharma A/S (President and CEO: Gitte P. Aabo, “LEO Pharma”) today announced that the two companies completed the relevant closing conditions on March 31, 2016 to allow the transfer of the Astellas global dermatology business to LEO Pharma from 0 a.m. on April 1.
On November 11, 2015, Astellas and LEO Pharma entered into an Asset Purchase Agreement with regard to Astellas’ global portfolio of dermatology products, which includes the eczema treatment Protopic® (except for in Japan1), and other products for the treatment of acne and skin infections.
Astellas and LEO Pharma have now satisfied the pre-agreed conditions to close the transaction, with Astellas having received €675 million as a result. Astellas and LEO Pharma will continue to work closely together with the aim of securing an effective transition with continued supply to patients.
Astellas expects an immaterial impact of this closing of transaction on its financial forecasts for the fiscal year ending March 31, 2016.
1) The distribution right of Protopic® in Japan was transferred to Maruho Co. Ltd. on April 1, 2014.