Biologics, in particular antibodies, are playing an increasingly important part in the R&D of big pharma, and it is to be expected that all of the major global players want in. The Japanese company Astellas Pharma is no exception: it announced a new mid-term management plan in October 2006, which included building new technological platforms for the development of antibody drugs. This move into biologics, along with other key changes, was designed to offset the difficulties anticipated by the company as a result of the patent expiries of two of its major products #8211; the immunosuppressant Prograf#174; (tacrolimus), and Harnal#174; (tamsulosin), which is used to treat the functional symptoms associated with benign prostatic hyperplasia. Since then, Astellas been building up its R&D antibody capabilities and, on 26 November, its US subsidiary, Astellas US Holding, signed a definitive agreement to acquire antibody company Agensys for US$387 M upfront and US$150 M for the achievement of various milestones. This feature discusses the various ramifications of the deal.