Astellas Pharma to Buy Iveric Bio for About $5.9 Billion
April 30 2023 - 8:57PM
Dow Jones News
By Kosaku Narioka
Astellas Pharma Inc. said Monday that it agreed to acquire
Iveric bio Inc. for about $5.9 billion to strengthen its
capabilities in the ophthalmology field.
The Japanese drugmaker said it would fund the planned
acquisition with about 800 billion yen of bank loans and commercial
papers, in addition to existing cash on hand, and that it expected
to repay new debt within the next five to seven years.
Astellas said Iveric Bio has promising programs and capabilities
in the field of ophthalmology and the boards of both companies have
unanimously approved the transaction.
The Japanese company said it would pay $40.00 per share of
Iveric, which booked net loss of $185.2 million and had $534.7
million in net assets in 2022.
Astellas said it planned to complete the acquisition in the
July-September quarter.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
April 30, 2023 20:42 ET (00:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Astellas Pharma (PK) (USOTC:ALPMY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Astellas Pharma (PK) (USOTC:ALPMY)
Historical Stock Chart
From Apr 2023 to Apr 2024
