Sosei buys Idorsia Pharmaceuticals' Japan, Korea units for $466 mln (updated)

Nxera Pharma

20/07/2023 08:19

(Changes attribution to company, adds background)
       TOKYO, July 20 (Reuters) - Japanese biopharma Sosei
Group  4565.T  has bought Swiss-based Idorsia Pharmaceuticals'
 IDIA.S  businesses in Japan and South Korea for about 65
billion yen ($466.1 million) in its largest acquisition to date.
    In a statement on Thursday, the company also said it had
bought some rights from Idorsia to develop and sell drugs.     
    "The Japan pharmaceutical market, given its size, large
ageing population and attractive high quality clinical
development and regulatory environment is the key next step for
Sosei Heptares' growth ambitions," President and CEO Chris
Cargill said.   
    The company will hold a press conference at 0800 GMT on
Thursday.
    ($1 = 139.4600 yen)

 (Reporting by Kantaro Komiya and Satoshi Sugiyama; Editing by
Kim Coghill and Barbara Lewis)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))