Otsuka Continues Overseas Expansion with US$3.5 B Avanir Buyout
Heather Cartwright
Abstract
In its largest deal to date and its second overseas acquisition in the space of 2 years, Otsuka Pharmaceutical has agreed to buy Avanir Pharmaceuticals for approximately US$3.5 B. With the purchase, Otsuka will gain Nuedexta® (dextromethorphan hydrobromide and quinidine sulphate), a fixed-dose combination of two patent expired molecules that was approved by the US FDA in 2010 for the treatment of pseudobulbar effect. In April 2015, Otsuka will lose patent protection for its key asset Abilify® (aripiprazole), which contributes approximately 40% of the company’s revenues.
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