Eisai Co., Ltd. and Eisai Inc. announce the signing of a US $205 million product acquisition agreement with Ligand Pharmaceuticals in which Eisai obtained exclusive global rights for Ontak (denileukin diftitox), Targretin (bexarotene) capsules, Targretin (bexarotene) gel 1 per cent and Panretin (alitretinoin) gel 0.1 per cent. In addition, certain Ligand personnel will be offered employment by Eisai Inc.

The strategic acquisition of four oncology-related products will help serve to establish Eisai's global oncology business, per its 5th mid-term business plan, the "Dramatic Leap Plan." Oncology is one of Eisai's long-standing therapeutic areas of focus, as evidenced by the company's research and development, marketing and sales force preparations and business development activities.

"We believe that Eisai has a promising future in oncology and that the acquisition of these products, as well as the valuable expertise and experience of those Ligand personnel to whom employment will be offered, is a well-planned approach to market entry," said Lonnel Coats, president and COO, Eisai Inc. "In addition, our strategic focus in oncology helps fulfil our human health care mission to satisfy unmet medical needs and increase benefits to patients and their families."

The transaction is subject to government approvals and is expected to close before the end of the year.