Jones Day has advised Japan’s Astellas Pharma on its $5.9 billion acquisition of U.S. drugmaker Iveric Bio, which was represented by Skadden, Arps, Slate, Meagher & Flom and Wilmer Cutler Pickering Hale and Dorr.

This is the second-largest cross-border acquisition by a Japanese drugmaker in the past five years, following Takeda Pharmaceutical's $6 billion purchase of Nimbus Therapeutics' psoriasis drug unit that was announced last December, Reuters reported.

This acquisition, the largest for Astellas, is expected to give it access to a range of ophthalmology treatments, Reuters added.

Partner Jonn Beeson led the Jones Day team.


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