Nichi-Iko Pharmaceutical Co. Ltd. will pay $736m in cash for Sagent Pharmaceuticals Inc. in a deal that will further expand the Japanese company's biosimilars business beyond Asia and diversify the US generics firm's injectable medicines portfolio.
The 40% premium that Nichi-Iko is paying to acquire Sagent may reflect the Tokyo-based company's need to gain a stronger foothold in the US, where Nichi-Iko has been trying to establish a biosimilar presence since at least 2013, but the Yen's recently strong performance versus the US dollar also likely made the deal more attractive
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