• Sandoz, a generic pharmaceuticals and biosimilar unit of Novartis AG (NYSE: NVS), has agreed to acquire worldwide product rights for systemic antifungal agent Mycamine (micafungin sodium, Funguard in Japan) from Astellas Pharma Inc (OTC: ALPMF) (OTC: ALPMY).

• Deal terms were not disclosed.

• The deal is expected to conclude in 1H 2023.

• Astellas reported Mycamine sales of JPY 18.9 billion ($135 million) for the year ending March 31, 2022.

• The announcement comes after Sandoz completed the acquisition of GSK Plc’s (NYSE: GSK) cephalosporins portfolio in October 2021.

• Sandoz CEO Richard Saynor said: “Acquiring this leading and respected global brand will significantly reinforce the Sandoz global hospital offering and complement our existing global leadership position in generic antibiotics.”

• Mycamine is indicated for invasive candidiasis and esophageal candidiasis.

• Price Action: NVS shares are down 0.59% at $91.67 on the last check Tuesday.

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