Sandoz Acquires Antifungal Agent From Astellas, Reinforcing Hospital Offering

Sandoz, a generic pharmaceuticals and biosimilar unit of Novartis AG (NYSE:NVS), has agreed to acquire worldwide product rights for systemic antifungal agent Mycamine (micafungin sodium, Funguard in Japan) from Astellas Pharma Inc (OTC:ALPMF) (OTC:ALPMY).
Deal terms were not disclosed.
The deal is expected to conclude in 1H 2023.
Astellas reported Mycamine sales of JPY 18.9 billion ($135 million) for the year ending March 31, 2022.
The announcement comes after Sandoz completed the acquisition of GSK Plc’s (NYSE: GSK) cephalosporins portfolio in October 2021.
Sandoz CEO Richard Saynor said: “Acquiring this leading and respected global brand will significantly reinforce the Sandoz global hospital offering and complement our existing global leadership position in generic antibiotics.”
Mycamine is indicated for invasive candidiasis and esophageal candidiasis.
Price Action: NVS shares are down 0.59% at $91.67 on the last check Tuesday.

Benzinga