Sandoz, a division of Novartis, has signed an agreement to acquire worldwide product rights for leading systemic antifungal agent Mycamine (micafungin sodium, Funguard in Japan) from Astellas.
Closing is anticipated in the course of H1, 2023, subject to standard conditions and regulatory approvals.
Astellas reported Mycamine sales of JPY 18.9 billion (USD 135 million) for the year ending March 31, 2022. The announcement comes after Sandoz successfully completed the acquisition of GSK’s global cephalosporins portfolio in October 2021.
Sandoz CEO Richard Saynor said: “Acquiring this leading and respected global brand will significantly reinforce the Sandoz global hospital offering, as well as complement our existing global leadership position in generic antibiotics.”
He added: “This will also be an important addition to our growing portfolio of anti-infective therapies aimed at combatting the spread of antimicrobial resistance, by providing the right drug to the right patient at the right time.”
Sandoz Anti-Infectives global medical lead Nicholas Adomakoh said: “Modern medicine is increasingly characterized by the need for complex interventions involving highly vulnerable patients. This welcome and timely portfolio addition will allow us to respond even better to the needs of patients and clinicians across the healthcare continuum.”
Mycamine is a leading global echinocandin, one of three major classes of antifungal agents, with a global patient base of well over two million. It is a therapy of choice in hospitals and intensive care units worldwide, a proven prophylactic in hematology and oncology patients, and widely used in organ transplants.
Mycamine is indicated for treatment of invasive candidiasis and espophageal candidiasis, which are currently both on the rise with a higher occurrence of associated hospital outbreaks, as well as prevention of candida and aspergillus infections in patients undergoing hematopoietic stem cell transplantation.
The financial terms of the asset purchase agreement involve $62.5-75 million upfront, depending on the date of the closing of the transaction, and potential sales-based milestone payments.