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The company announced that it has terminated an agreement made with UMN Pharma for the co-development of influenza vaccine programs in Japan.
On Jan. 10, 2017, Astellas Pharma announced that it has terminated an agreement made on Sept. 21, 2010 between Astellas and 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, the company said in a statement. The company said it will recognize the impairment losses for other tangible assets of four billion yen (approximately US$8,636,330) in the first nine months after the fiscal year ending March 31, 2017. The company is still reviewing the other impact on its financial results.