Swiss biopharma company Idorsia has sold a significant portion of its Asia Pacific operations, excluding China, to Sosei Heptares for $465.8 million. This includes their affiliates in Japan and South Korea and rights to several Idorsia drugs. In addition, the deal grants “…a license for the cerebral vasospasm drug Pivlaz, a co-exclusive license for the insomnia drug daridorexant (sold in the US and Europe as Quviviq), as well as the possibility for Sosei Heptares to license, develop and commercialize two more drugs, cenerimod, and lucerastat. Idorsia will supply Pivlaz and daridorexant in bulk to Sosei.” The sale was due to slower-than-expected revenue from their drug, Quviviq. Sosei Heptares will now lead in the area and have first-refusal rights on some pipeline assets. This move aligns with Sosei Heptare’s strategy to become a fully integrated Japan-focused pharmaceutical business. Additionally, they may have the option to acquire up to five more clinical-stage programs from Idorsia’s pipeline.
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[Source: EndPoints, July 20th, 2023]