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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Astellas Pharma Inc.    4503   JP3942400007

ASTELLAS PHARMA INC.

(4503)
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Bayer takes on Astellas in purchase of experimental menopause relief

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08/11/2020 | 05:46am EDT

Bayer moved to acquire a prospective non-hormonal menopause relief for an initial $425 million to strengthen its women's healthcare business, in a challenge to a similar development venture at Astellas.

Under the deal to buy KaNDy Therapeutics Ltd. from a group of investment firms, Bayer also agreed to pay up to $450 million (344 million pounds) for certain development achievements, with potentially more than $100 million additional sales-dependent payments, the German company said in a statement on Tuesday.

KaNDy in January announced positive data from the second of three phases of testing for NT-814, a new non-hormonal daily pill to ease hot flushes and night sweats, which Bayer said could generate peak annual sales of more then 1 billion euros (899 million pounds).

It is behind Japan's Astellas, which a year ago started the third phase of testing of a similar compound known as fezolinetant. NT-814, in turn, would address a wider range of symptoms, the head of Bayer's drugs division Stefan Oelrich told Reuters.

Bayer is seeking to revive its women's healthcare business as cheaper copied versions have lowered its sales of birth control pills.

It is close to settling injury claims over inserted birth control device Essure for more than 1 billion euros.

"We are one of the leaders in the area of women's health... resulting in synergies on many levels, starting with product development, but also commercialisation," Oelrich said.

Previous moves to reinvigorate the franchise include an alliance with Evotec to develop a treatment for a common cause of infertility in women.

Bayer's pharma unit, which in 2018 changed its strategy to increase its reliance on external sources of innovation, would not rule out future transactions larger than the KaNDy deal, Oelrich told Reuters.

But he cautioned that late-stage projects came at "very, very high prices".

By Ludwig Burger

Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. -0.03% 1622 End-of-day quote.-13.26%
BAYER AG -1.73% 53.47 Delayed Quote.-26.56%
EVOTEC SE -0.05% 22.01 Delayed Quote.-4.51%
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Financials
Sales 2021 1 274 B 12 073 M 12 073 M
Net income 2021 205 B 1 938 M 1 938 M
Net cash 2021 450 B 4 262 M 4 262 M
P/E ratio 2021 14,6x
Yield 2021 2,60%
Capitalization 3 013 B 28 522 M 28 550 M
EV / Sales 2021 2,01x
EV / Sales 2022 1,81x
Nbr of Employees 15 883
Free-Float 99,2%
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2 275,00 JPY
Last Close Price 1 622,00 JPY
Spread / Highest target 66,5%
Spread / Average Target 40,3%
Spread / Lowest Target 4,81%
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Managers
NameTitle
Kenji Yasukawa President, CEO & Representative Director
Yoshihiko Hatanaka Chairman
Naoki Okamura Representative Director & Vice President
Tomokazu Fujisawa Director
Hiroko Sakai Director
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