URGENT: Japan’s Astellas to buy U.S. drugmaker Iveric Bio for $5.9 bil.

Astellas Pharma Inc. said Monday it will buy U.S. pharmaceutical company Iveric Bio Inc. for about $5.9 billion.

The U.S. company, which focuses on ophthalmology treatments, will become Astellas’ wholly owned subsidiary, Astellas said in a release.