Skip to main content

Covington & Burling has represented Tokyo-based Astellas Pharma on its $3 billion acquisition of U.S. drugmaker Audentes Therapeutics, which was advised by Fenwick & West.

According to Reuters, the acquisition marks the second biggest on record for Astellas after its 2010 purchase of OSI Pharmaceuticals Inc for $3.8 billion. Astellas expects the deal, which is subject to regulatory approval, including U.S. antitrust clearance, to close in the first quarter of 2020.

Reuters added that this sale was a push by Astellas Pharma to make genetic medicines a key area of growth. Gene therapies are one of the hottest areas of drug research and Astellas is offering $60 per share in cash for San Francisco-based Audentes.

Morgan Stanley and Centerview Partners are acting as financial advisors to Astellas and Audentes, respectively.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com. 

Related Articles

Deals

9 firms advise on milestone $8.2 bln cross-border insurance deal

by Sarah Wong |

Global law firms Debevoise & Plimpton, Kirkland & Ellis and Herbert Smith Freehills are acting for Bermuda-based insurer Resolution Life on its $8.2 billion sale to Japan’s Nippon Life Insurance, the largest overseas acquisition by a Japanese insurer to date.

Deals

Top international firms act on landmark $7.1 bln ESR take-private deal

by Nimitt Dixit |

Global law firms Freshfields, Latham & Watkins, Kirkland & Ellis, Paul, Weiss, Rifkind, Wharton & Garrison and Cleary Gottlieb Steen & Hamilton have steered an offer to take the Hong Kong-listed ESR Group private in a deal valued at $7.1 billion.

Deals

Fangda, KWM act on HKAA’s $592 mln acquisition of Zhuhai Airport stake

by Hu Yangxiaoxiao 胡阳潇潇 |

Fangda Partners has advised the Hong Kong Airport Authority (HKAA) on its agreement to purchase a 35 percent stake in Zhuhai Airport for approximately $592 million, with King & Wood Mallesons representing the seller, Zhuhai Transportation.