Issue Date: February 28, 2011
Kyowa Hakko Kirin Nabs ProStrakan
Kyowa Hakko Kirin has agreed to pay roughly $470 million for Scottish specialty pharmaceutical firm ProStrakan Group. Tokyo-based KHK says the deal was driven by the potential to quickly expand in the U.S. and Europe. ProStrakan brings clinical and regulatory experience, along with a sales force that will enable KHK to launch its own pipeline of products in those markets. Several suitors have approached ProStrakan in recent months, but KHK was the best fit in terms of complementary product portfolios and geographic presence, ProStrakan’s chairman, Peter Allen, says.
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