Healthcare Industry News: Ligand Pharmaceuticals
News Release - October 25, 2006
Eisai Announces Completion of Acquisition of Four Oncology-Related Products from LigandTEANECK, N.J., Oct. 25 (HSMN NewsFeed) -- Eisai Inc., the U.S. pharmaceutical subsidiary of Tokyo-based Eisai Co., Ltd., today announces the completion of Eisai's acquisition of four oncology-related products from Ligand Pharmaceuticals. The companies were advised that the 30-day waiting period under the Hart-Scott-Rodino (HSR) act was terminated early by the Federal Trade Commission (FTC). In the agreement, Eisai Co., Ltd. and Eisai Inc. obtained exclusive global rights to ONTAK® (denileukin diftitox), Targretin® (bexarotene) capsules, Targretin® (bexarotene) gel 1% and Panretin® (alitretinoin) gel 0.1%.
In the United States, Eisai Inc. assumed product distribution responsibilities as of October 25. In addition, certain Ligand personnel are being offered employment by Eisai Inc.
Oncology is one of Eisai's long-standing therapeutic areas of focus, supporting the company's human health care mission to satisfy unmet medical needs and increase benefits to patients and their families. Per Eisai's 5th mid-term business plan, the "Dramatic Leap Plan," the acquisition of these four oncology-related products will help serve to establish Eisai's oncology business as the company prepares for the introduction of its own pipeline products.
About Eisai Inc.
Eisai Inc. is a U.S. pharmaceutical subsidiary of Eisai Co., Ltd., a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: neurology, gastrointestinal disorders and oncology/critical care. Established in 1995, Eisai Inc. began marketing its first product in the United States in 1997 and has rapidly grown to become an integrated pharmaceutical business with sales of approximately $2.2 billion in fiscal year 2005 (year ended March 31, 2006).
Eisai Inc. employs more than 1,300 people at its headquarters in Teaneck, NJ, at its state-of-the-art pharmaceutical production and formulation research and development facility in Research Triangle Park, NC, and in the field. Between 1998 and 2005, Eisai Inc. moved up rapidly in the rankings (based on retail sales) of U.S. pharmaceutical companies from No. 44 to No. 19. For more information about Eisai, please visit www.eisai.com.
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