The global healthcare company LEO Pharma and Japan-based Astellas announced the signature of an Asset Purchase agreement under which Astellas will transfer its global dermatology business to LEO Pharma for € 675 million.

The transferred portfolio includes the tacrolimus treatment for eczema, and other products for the treatment of acne and skin infection. According to LEO Pharma, the acquisition is a pivotal step on its further growth to become leader in the dermatology market segment. With the agreement, LEO Pharma expects to create a strong foothold in markets such as China and Russia and adds critical scale in many other markets. Annual turnover is estimated to increase by more than 20% once the portfolio is fully transferred.