Covington, Fenwick Shape $3B Deal For California Drugmaker

Law360 (December 2, 2019, 8:06 PM EST) -- Japan's Astellas Pharma has agreed to pay roughly $3 billion for Audentes Therapeutics, a San Francisco-based drugmaker focused on treatments for rare neuromuscular conditions, the companies said Monday, in a deal guided by Covington & Burling and Fenwick & West.

The acquisition adds to Astellas Pharma Inc.'s portfolio a company in Audentes Therapeutics Inc. that develops drugs to treat a range of rare neuromuscular diseases, including myotubular myopathy, which is a life-threatening ailment that afflicts people with extreme muscle weakness, respiratory failure and early death, according to a statement. Audentes has a potential treatment for myotubular myopathy in development called AT132....

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