(Bloomberg) -- A unit of U.S. health-care giant Johnson & Johnson has agreed to sell global rights to a treatment for a rare blood disorder to Britain's Eusa Pharma.
Eusa Pharma is buying the rights to the drug Sylvant from Janssen Sciences Ireland UC for $115 million in cash, the Hemel Hempstead, England-based company said Wednesday, confirming a Bloomberg report. The transaction is pending regulatory approval.
Eusa Pharma is working to focus its operations fully on treatments for oncology and rare diseases. The closely held company announced July 11 that it had agreed to sell its critical-care business to Serb Pharmaceuticals for an undisclosed amount.
Sylvant treats multicentric Castleman's disease, a rare illness that affects lymph nodes and related tissues in the body and can lead to lymphoma. It's approved in more than 40 countries worldwide, including the U.S., Canada and South Korea.
Eusa Pharma, founded in 2015, has commercial operations in the U.S. and Europe, as well as a distribution network in about 40 countries, according to its website.
Rothschild & Co. advised Eusa Pharma on the transaction.
--With assistance from Jared S. Hopkins.
To contact the reporter on this story: Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net
To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Timothy Sifert, Eric Pfanner
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