Düsseldorf, March 17, 2020 – Asahi Kasei Corporation has completed its acquisition of US-based pharmaceutical company Veloxis Pharmaceuticals Inc. on March 3, 2020 (CET).
Veloxis Pharmaceuticals A/S, based in Denmark, has been established in June 2002 and is a specialty pharmaceutical company, which is focused on the development, manufacturing and sale of immunosuppressive drugs that are used during and after transplant surgery of organs. This includes ENVARSUS XR – an immunosuppressant developed to prevent organ rejection in people who have had a kidney transplant. The use of a proprietary drug delivery technology is a particular distinguishing feature of this drug. It serves to enhance oral bioavailability and control the release of the drug to improve efficacy and/or reduce side effects.
The acquisition of Veloxis Pharmaceuticals Inc. (hereafter ‚Veloxis‘) – a wholly owned US-based subsidiary of Veloxis Pharmaceuticals A/S – provides Asahi Kasei with a business platform in the pharmaceutical industry of the USA. Asahi Kasei aims to achieve the following synergies through the acquisition:
a) Enhance licensing activity to obtain new pharmaceuticals as growth drivers by leveraging Asahi Kasei’s business platform in Japan and Asia together with Veloxis‘ business platform in the U.S.
b) Discover and develop new pipeline opportunities that will meet high unmet medical needs by combining Asahi Kasei’s drug discovery capabilities and Veloxis‘ expertise in the US market.
c) Accelerate the creation of new health care businesses by leveraging access to innovation and clinical practices in the U.S.
Asahi Kasei’s pharmaceuticals business provides a wide range of pharmaceuticals and diagnostic reagents. As a specialized, innovation-driven operation, the development of new world-class drugs is advanced to offer innovative and unique therapeutic solutions in the fields of orthopedics, critical/intensive care, urology, the immune system, and the central nervous system. Since the development of Japan’s first original antibiotic in 1954, Asahi Kasei has advanced the development of many innovative new drugs centering on these fields. In the medical sector, on the other hand, Asahi Kasei is one of the worldwide leading manufacturers of products for hemodialysis and therapeutic apheresis treatment.
Details of the Acquisition
On December 12, 2019, Asahi Kasei announced a tender offer for shares and warrants of Veloxis Pharmaceuticals A/S (listed on Nasdaq Copenhagen), headquartered in Copenhagen, Denmark, which owns 100 percent of Veloxis Pharmaceuticals Inc. The tender offer, which expired on January 14, 2020, was made by Asahi Kasei’s wholly owned Danish subsidiary in accordance with the Danish Takeover Order. All procedures related to this tender offer and required to make Veloxis Pharmaceuticals A/S a wholly owned subsidiary of Asahi Kasei were completed on March 3, 2020 (CET), whereby Veloxis Pharmaceuticals Inc. became a wholly owned, indirect subsidiary of Asahi Kasei. Veloxis Pharmaceuticals Inc. will continue to be managed by its current management team.
Asahi Kasei Corporation is a globally active diversified technology company with operations in the Material, Homes, and Health Care business. The Material division encompasses fibers & textiles, petrochemicals, performance polymers, performance materials, consumables, battery separators, and electronic devices. The Homes division provides housing and construction materials to the Japanese market. The Health Care division includes pharmaceuticals, medical devices, and acute critical care devices and systems. With approximately 39,283 employees around the world, the Asahi Kasei Group serves customers in more than 100 countries and achieved sales of 17.6 billion euros (2,170.4 billion yen) in the fiscal year 2018 (April 1, 2018 – March 31, 2019).
Asahi Kasei is „Creating for Tomorrow“ with all operations sharing a common mission of contributing to life and living for people around the world. For more information, visit:
www.asahi-kasei.co.jp/asahi/en/ and https://automotive-asahi-kasei.eu/