19 Jun 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Japan-based drugmaker Astellas Pharma is planning to sell its dermatology portfolio, which could be worth between $500 million and $1 billion, according to the sources.
Astellas has hired DC Advisory, London-based investment banking boutique, to sell the assets, said the two sources who wished to remain anonymous, as they are not permitted to speak to the press, a global media firm reported.
The company's dermatology portfolio, which includes Protopic, a drug to treat eczema, sells products around the world.
Astellas has $23 billion in market capitalization and is looking at breaking up the business and selling the pieces to different parties to generate a greater premium, said one of the sources. The strategy makes sense as the US patent for Protopic is set to expire next year, opening it up to generic competition, said another source. When contacted, Astellas declined to comment, said the media report.