Nichi-Iko slips after Sagent deal
Nichi-Iko Pharmaceutical Co. Ltd. (Tokyo:4541) dipped Y118 to Y1,974 on Tuesday after announcing plans to acquire Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) for about $736 million. The companies said the deal would give Nichi-Iko greater access to U.S. markets for its biosimilar pipeline, which includes its own versions of Remicade infliximab, Rituxan/Mabthera rituximab and Herceptin trastuzumab. Nichi-Iko and Sagent announced the deal after Tokyo market hours on Monday (see BioCentury Extra, July 11).
In May, Nichi-Iko said it intended to develop the trastuzumab biosimilar ( AP063) simultaneously in Japan and the U.S. to accelerate its U.S. launch. In September 2015, the company submitted an application to Japan's Ministry of Health, Labour and Welfare (MHLW) for marketing approval of its infliximab biosimilar ( GS071). ...