And, well (no surprise here!), that looks like about 1.5X annual sales. Said another way, in the zone of what Mr. Kapoor at Akorn, Inc. paid for the US rights, back in November 2013. Sweet deals -- for the purchasers! But smart, too, for Whitehouse Station -- just the same -- it will more and more focus on its power alleys. Here's the presser, out of Osaka:
. . . .Santen Pharmaceutical Co., Ltd. announced today that it has entered into an Agreement with Merck & Co., Inc., (Whitehouse Station, NJ, USA, known as MSD outside of the U.S.A and Canada) for Santen to purchase Merck's ophthalmology products in Japan, Europe, and Asia Pacific. The annual sales in these territories associated with these ophthalmic products are approximately $400 million.
Under the terms of the Agreement, Santen will make an upfront payment of approximately USD600 million and additional payments based on defined sales milestones as needed ("Purchase Price"). Santen will also receive supply from Merck, the ophthalmology products within this Agreement for a two to five year period. The Agreement is subject to certain closing conditions, including obtaining antitrust clearance in Japan and other closing conditions related to specific markets or regions. Santen intends to fund the transaction with a combination of cash on hand and bank loans. The Agreement is expected to close in a few months. . . .
Separately, Merck has sold its Boulder, Colorado biopharm facility to KBI -- in a much smaller deal. May post on it late today.
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