Pharma BD Deal Intelligence
The ProStrakan buy became Kyowa Hakko Kirin's Western commercial shell, but the ~$474M in acquired products it actually paid for is gone: Sancuso's US rights were sold off for just $13.5M upfront, and the remaining brands portfolio was fully exited via a 2023 joint venture that Grünenthal took over outright in 2026.
Kyowa Hakko Kirin agreed to acquire Scotland-based ProStrakan Group for £292 million (~$473.3M), 130 pence/share — a 41% premium — giving the Japanese group a…
Three years post-deal, KHK doubled down by having ProStrakan acquire Archimedes Pharma for £230M — validating the original 2011 thesis of using ProStrakan as…
Kyowa Kirin divested Sancuso to Cumberland Pharmaceuticals as it refocused North American resources on rare-disease and oncology pipeline assets — long-term…
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Kyowa Hakko Kirin acquired UK specialty pharma ProStrakan for £292M (~$474M), 130p/share, a 41% premium. Deal gave KHK a Western commercial platform with Sancuso and supportive-care oncology products. Closed April 21, 2011.
Assessment window: 10yr post-close.
$1.3B Global CINV / 5-HT3 antagonist market at Sancuso US launch (2008 reference cited by ProStrakan management) · >$100M Sancuso peak sales potential cited at US launch
Chemotherapy-induced nausea and vomiting is a debilitating side effect of cytotoxic cancer therapy that, untreated, affects the majority of patients on moderately or highly emetogenic regimens and can drive treatment non-adherence and dose reductions. Supportive-care antiemetics (5-HT3 antagonists, NK1 antagonists, dexamethasone) are standard-of-care prophylaxis but oral and IV burden remain significant for outpatients.
The CINV antiemetic market in 2011 was anchored by 5-HT3 receptor antagonists: ondansetron (Zofran, GSK; first-generation, by then largely generic), granisetron (Kytril, Roche/Genentech; oral and IV), dolasetron (Anzemet, Sanofi) and second-generation palonosetron (Aloxi, Eisai/Helsinn). NK1 antagonists led by aprepitant (Emend, Merck) layered on top for highly emetogenic regimens. Sancuso (granisetron transdermal system), originally approved by the FDA in September 2008, was the first and only patch in the class, delivering up to five days of continuous granisetron exposure for moderately to highly emetogenic multi-day regimens. ProStrakan management framed Sancuso as targeting a $1.3B class-level market with peak-sales potential >$100M. For Kyowa Hakko Kirin the deal added a US/EU specialty oncology supportive-care channel that complemented its Japanese oncology and nephrology presence (Nesp/Regpara) — Sancuso later became the franchise's flagship until divestiture to Cumberland Pharmaceuticals in January 2022.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Kyowa Hakko Kirin Co., Ltd. / ProStrakan Group plc (this deal) | 2011 | $474M | 44 |
| AstraZeneca PLC / Daiichi Sankyo Company, Limited | 2019 | $6.9B | 100 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Astellas Pharma Inc. / Seagen Inc. | 2009 | $4.5B | 95 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Servier / Agios Pharmaceuticals (oncology) | 2020 | $2.0B | 91 |
| Servier Pharmaceuticals LLC / Agios Pharmaceuticals Inc. | 2020 | $2.0B | 91 |
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