ASTELLAS PAYS $221 MILLION FOR RIGHTS TO THERAVANCE ANTIBIOTIC

Astellas Pharma Inc., Japan's second -- largest drugmaker, bought the right to test, make and sell an antibiotic called telavancin from Theravance Inc., a U.S. drugmaker. Tokyo -- based Astellas will pay $221 million to Theravance as an initial payment for the licensing agreement, the company said in a statement filed to the Tokyo Stock Exchange.

Bloomberg

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