Deals
Pharma CEO Hunts New Trophy After Prostate Cancer Blockbuster
- Astellas assesses avenues to bolster medicine pipeline
- Company has $3.6 billion in cash and 2019 patent cliff
Yoshihiko Hatanaka.
Source: Astellas Pharma Inc.This article is for subscribers only.
A $110 million bet on a prostate cancer medicine gave Astellas Pharma Inc. a blockbuster that helped turn it into one of Asia’s most valuable drugmakers. Now, with patent expirations looming in 2019, Chief Executive Officer Yoshihiko Hatanaka is setting off on a hunt for his next best seller.
Armed with about $3.6 billion in cash, the Japanese drugmaker is assessing various investment options. Astellas has a history of using deals to expand and on the company’s executive floor, banker plaques and trophies from deals are on prominent display. More acquisitions are possible and the Tokyo-based drugmaker’s internal growth team is also looking at new diseases to expand into, Hatanaka said in an interview.