Japan’s Astellas to buy Audentes for $3 billion to boost gene therapy division

JAPAN – Astellas Pharma Inc, Japan’s second largest drugmaker by sales has agreed to buy Audentes Therapeutics Inc for about US$3 billion in cash as it seeks to make genetic medicines a key area of growth. Gene therapies are one of the hottest areas of drug research and Astellas, is offering US$60 per share for San Francisco-based Audentes, a 110% premium to its price in December 2019. Citi analyst Hidemaru Yamaguchi said that while the deal looked expensive, it was a positive move for Astellas as Audentes had “cutting-edge gene…

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