The multibillion-dollar biotech buyouts keep on coming. Astellas Pharma is the latest drugmaker to get in on the act, agreeing to pay $5.9 billion to buy Iveric Bio and establish itself as a player in an emerging eye disease niche. Iveric is less than three months away from learning whether the FDA will approve avacincaptad pegol, a complement C5 protein inhibitor that reduced the rate of geographic atrophy (GA) progression in a phase 3 clinical trial. Patients with GA, a cause of irreversible loss of vision in patients with age-related macular degeneration (AMD), lacked treatments until recently, but the market is heating up fast.
Read the full article: Astellas Keeps the Big Buyouts Rolling, Inking $5.9B Iveric Takeover Ahead of FDA Eye Disease Ruling //
Source: https://www.fiercebiotech.com/biotech/astellas-keeps-big-buyouts-rolling-inking-59b-iveric-takeover-ahead-fda-eye-disease-ruling