Tokyo, January 10, 2017 - Astellas Pharma Inc. (TSE:4503, President and CEO: Yoshihiko Hatanaka, “Astellas” ) announced that it exercised its right to terminate the agreement executed as of September 21, 2010 between Astellas and UMN Pharma Inc. (TSE:4585, Chairman & CEO: Tatsuyoshi Hirano, “UMN Pharma”) for the co-development and Astellas’ exclusive commercialization of ASP7374 and ASP7373, the cell culture based influenza vaccine programs in Japan.
Upon the effective date of termination, Astellas will return to UMN Pharma all rights granted under the agreement. Astellas will withdraw the application for marketing approval of ASP7374 and discontinue the development of ASP7373.
Astellas will recognize the impairment losses for other intangible assets of 4 billion yen in the first nine months of the fiscal year ending March 31, 2017. Astellas is still reviewing the other impact on its financial results.