We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Otsuka Pharmaceutical Buys Mass. Biotech For $430M In Cash

Law360 (July 11, 2018, 6:58 PM EDT) -- Japan’s Otsuka Pharmaceutical Co. Ltd. has agreed to buy private equity-backed, Massachusetts-based clinical stage biotechnology company Visterra Inc. for $430 million in cash in a deal already approved by both their boards of directors, the companies jointly announced Wednesday.

Under the deal, Visterra will become a subsidiary of U.S. holding company Otsuka America Inc., the companies said. As an Otsuka unit, Visterra will keep its headquarters in Waltham.

Tatsuo Higuchi, Otsuka Pharmaceutical’s president and representative director, praised the deal in the companies’ statement.

“By collaborating and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.