By Fineline Cube Japan-based Sosei Group Corporation (TYO: 4565) has announced that its subsidiary, Sosei Heptares, has acquired the South Korea and Japan-based units of Swiss firm Idorsia Ltd (SWX: IDIA) for a purchase price of approximately JPY 65 billion (USD 460 million), to be paid in cash.
Expanding Sosei’s Portfolio in Asia-Pacific
The acquisition grants Sosei control over Idorsia’s portfolio in Japan and the Asia-Pacific territories, excluding China. This includes the cerebral vasospasm drug Pivlaz (clazosentan), which was launched in Japan in the fiscal year 2022 and generated JPY 7.5 billion (USD 53 million) in sales. The deal also includes daridorexant, an insomnia treatment expected to be filed for first approval in Japan in the second half of 2023, and options to seven other drugs from Idorsia’s global pipeline.
Significant Assets and Future Prospects
Notably, Idorsia had previously licensed the rights to daridorexant in China to Simcere Pharmaceutical Group (2096.HK) in a November 2022 deal worth up to USD 50 million. This acquisition by Sosei Heptares is a strategic move to expand its presence in the pharmaceutical market, particularly in the Asia-Pacific region, and to bolster its product offerings with a range of drugs that target various therapeutic areas.-Fineline Info & Tech