Sandoz to acquire antifungal agent Mycamine from Astellas

Sandoz, the generic and biosimilar medicines business of Swiss pharma giant Novartis (NOVN: VX), has signed an agreement to acquire worldwide product rights for leading systemic antifungal agent Mycamine (micafungin sodium, trade named Funguard in Japan) from Astellas Pharma (TYO: 4503).

The deal is expected to close in the course of first-half 2023, subject to standard conditions and regulatory approvals.

Astellas reported Mycamine sales of 18.9 billion yen ($135 million) for the year ending March 31, 2022. The announcement comes after Sandoz, which Novartis plans to split out as a separate company,  successfully completed the acquisition of GSK’s global cephalosporins portfolio in October 2021.