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AstraZeneca sought to buy Japan's Daiichi Sankyo last year: port

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TOKYO - Britain’s AstraZeneca offered to buy Japanese drugmaker Daiichi Sankyo Co last year, a business magazine reported on Thursday, sending the stock soaring before trade was suspended.

Daiichi Sankyo, which has a market value of about $16 billion, declined the offer, said the online version of Nikkei Business magazine, citing unidentified sources.

Both Daiichi Sankyo and AstraZeneca declined to comment.

AstraZeneca may have targeted Daiichi Sankyo for its expertise in antibody drug conjugates which are designed to target cancer cells and not kill healthy cells, the business magazine said.

The two companies have a long standing business relationship which includes a 2015 agreement to jointly commercialize constipation drug Movantik in the United States and a 2010 deal to promote and supply blockbuster heartburn treatment Nexium in Japan.

Last month, the British drugmaker’s oncology prospects suffered a major blow when an immunotherapy treatment failed to help patients as hoped in a closely watched lung cancer trial.

Shares in the Japanese drugmaker rose as much as 13 percent at one stage. They last traded 5 percent higher before the suspension kicked in.

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Muslim Global: AstraZeneca sought to buy Japan's Daiichi Sankyo last year: port
AstraZeneca sought to buy Japan's Daiichi Sankyo last year: port
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