Leo Pharma to purchase Astellas’ global dermatology business

Leo Pharma has announced the acquisition of the global dermatology business of Astellas, a deal that is expected to close in the first quarter of 2016.

The transaction has been valued at 675 million euros (477.02 million pounds) and encompasses assets and associated responsibilities relating to Astellas' global portfolio of dermatology products, including the atopic dermatitis treatment Protopic.

It also includes other products for the treatments of acne and skin infections, predominantly sold in the Europe, Middle East and Africa region. The companies will now work together to ensure as smooth as a transition as possible.

This deal aligns with Leo Pharma's focus on the dermatology therapeutic area, while enabling Astellas to focus on other key strategic goals.

Gitte Aabo, chief executive officer and president of Leo Pharma, said: "With our expanded portfolio, we will be able to offer patients an even wider range of treatment solutions to meet their individual needs."

This comes after Leo Pharma recently restructured its executive leadership team, with Anders Kronborg appointed as chief financial officer.