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Astellas Pharma Inc. on Friday emerged victorious in the bidding war for FibroGen Inc.'s oral anemia therapeutics. The key, said FibroGen, was the pharma company's willingness to leave North American rights in the hands of the biotech play.

Under the Astellas deal, FibroGen (South San Francisco, Calif.) will get a blockbuster $300 million payment up front and is eligible for

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