The Japanese pharmaceutical company Astellas Pharma Inc. recently made a bid to purchase OSI Pharmaceuticals.
According to an article on Reuters, OSI would immediately provide Astellas with the lucrative anti-cancer drug Tarceva.
The medical device and pharmaceutical industries are not normally subject to currency fluctuation as compared to commodity industries. However, the rising value of the Japanese Yen, which is now worth 20% more than its value in 2007, is encouraging foreign acquisitions. This has resulted in a trend towards Japanese pharmaceutical companies expanding outside of Japan.
More information on Astellas’ bid on OSI: “Japan’s Astellas Bids $3.5 Billion for OSI Pharma“