Japan's Otsuka to buy Astex Pharma for about $900 million: Nikkei

(Reuters) - Japanese drugmaker Otsuka Holdings Co will buy Astex Pharmaceuticals Inc for about 90 billion yen ($900 million) to tap the cancer drugs the U.S. company is developing, the Nikkei said. (http://link.reuters.com/hed82v) Shares of Astex, which has a market capitalization of $634.2 million as of Tuesday close, rose as much as 41 percent to a nine-year high of $9.39 on the Nasdaq. Astex, whose only approved drug, Dacogen, treats a blood disorder called myelodysplastic syndromes, is developing drugs to treat prostate, lung and ovarian cancer. ...



via Health News Headlines - Yahoo! News http://news.yahoo.com/japans-otsuka-buy-astex-pharma-900-million-nikkei-181324536--finance.html