BioCentury
ARTICLE | Strategy

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May 1, 2006 7:00 AM UTC

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 milestones of $130 million before filing and $335 million thereafter. Astellas (Tokyo:4503, Tokyo, Japan) also will purchase $50 million of FibroGen stock and will co-fund clinical development in North America and Europe. ...