Japan's Astellas to Buy Prostate Cancer Drug Rights

Japan's Astellas to Buy Prostate Cancer Drug Rights

In a recent medical development, Japan's top ranked drug maker Astellas Pharma Inc., will be paying a whopping $765 Million to acquire global rights to develop, manufacture and market an experimental medicine for prostate cancer.

Under the deal, San Francisco's Medivation Inc,., will be paid an upfront amount of $110 Million by Astellas, and the remaining $655 Million will be paid by Tokyo's giant drugmaker as and when the drug's development and sales goals are met.

Canon Q2 Profit tumbles 86 percent

Canon Q2 Profit tumbles 86 percent

World's largest maker of digital cameras, Canon Inc. said its second quarter profits tumbled 86 percent, hit by the sluggish sales of digital cameras, printers and copy machines.

Lion Nathan accepts the terms for takeover by Kirin

Lion Nathan

As per media reports, the terms for $2.5 billion takeover by Japanese brewer Kirin, which is making a rapid push into Asian markets, has been agreed upon by Australian brewer Lion Nathan Ltd.

From quite a while now, Lion Nathan, Australia's No.2 beer maker, has been in negotiations with the terms for Kirin's offer, which was first announced late in April.