Sandoz a unit of biopharmaceutical major Novartis AG (NVS) said on Monday that it has completed acquiring the worldwide brand rights of the antifungal agent Mycamine from Astellas Pharma Inc. (ALPMY), a Japanese pharmaceutical company.
With this acquisition Sandoz hopes to reinforces its global hospital offering and leading anti-infectives portfolio.
For the year ending March 2023, Astellas had reported Mycamine sales worth $105 million. The antifungal agent has a patient base over two million.
According to the company, it is a therapy of choice in hospitals and intensive care units worldwide. It is a proven prophylactic in hematology and oncology patients and is widely used in organ transplants. It is also used for the treatment of invasive candidiasis and esophageal candidiasis and is a preventive treatment for candida and aspergillus infections in patients undergoing hematopoietic stem cell transplantation.
On Friday, shares of Novartis closed at $101.78 up 0.93% on the New York Stock exchange and shares of Astellas closed at 2200 yen up 0.94% on the Tokyo Stock Exchange today.
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