Japan's Astellas borrows ¥1 trillion from Mizuho

Astellas Pharma, Japan's third largest pharmaceutical company, is reportedly set to borrow as much as ¥1 trillion (€7.05bn) from Mizuho Corporate Bank amid expectations of widespread consolidation in its sector.

Bloomberg reports that the drug company is raising cash to fund acquisitions as it looks to secure a top 10 position in the global pharmaceutical market. It cites two unnamed sources familiar with the financing agreement.

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