Astellas Pharma, a pharmaceutical company, completed the acquisition of Iveric Bio, a biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with significant unmet medical needs, for $5.9bn. "We are pleased to reach an agreement with Iveric Bio, a company with exceptional expertise in the R&D of innovative therapeutics in the ophthalmology field. Iveric Bio has promising programs including Avacincaptad Pegol, an important program for Geographic Atrophy secondary to Age-Related Macular Degeneration, and capabilities across the entire value chain in the ophthalmology field. We believe that this acquisition will enable us to deliver greater VALUE to patients with ocular diseases at high risk of blindness," Naoki Okamura, Astellas President and CEO.