Santen Pharmaceutical to Sell Ophthalmic Medical Device Subsidiary to US Company for ¥2 Billion

Santen Pharmaceutical will sell its U.S. subsidiary AVS to U.S. biotech company SpyGlass Pharma. The sale price is approximately $13 million (approximately ¥2 billion), and Santen announced that AVS products will continue to be handled in Japan.

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The story

Santen Pharmaceutical sold all shares in its U.S. subsidiary AVS, which develops and manufactures ophthalmic medical devices, to U.S. biotech company SpyGlass Pharma. The sale price was disclosed as approximately $13 million (approximately ¥2 billion).

AVS is responsible for the research and development and manufacture of intraocular lenses and lens materials. Santen sells several AVS products in Japan and plans to continue handling the company’s products after the sale.

Santen Pharmaceutical is advancing the optimization of its business portfolio, and the sale is expected to contribute to the restructuring of that portfolio.

At a glance

Business partnerSold all shares in AVS to SpyGlass Pharma

AmountApproximately $13 million (approximately ¥2 billion)

NatureSold all shares in AVS (AVS products will continue to be handled in Japan after completion of the sale)

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