Otsuka to Acquire Avanir for $3.5 Billion
Otsuka Holdings Co., based in Japan, plans to buy U.S.-based biopharmaceutical company Avanir Pharmaceuticals for about $3.5 billion, according to a Reuters article. The company seeks to expand its neurologic drug portfolio before expiration of a key drug patent.
The company seeks to build its product pipeline ahead of a "patent cliff" after April 2015, when its U.S. patent for schizophrenia drug Abilify expires and opens the door to generics. Read the full story