Japanese drugmaker Astellas Pharma Inc <4503.T> is looking to sell its dermatology portfolio that could be worth between $500 million and $1 billion, according to three people familiar with the situation.

Astellas has hired London-based investment banking boutique DC Advisory to sell the assets, according to two of the people, 9who wished to remain anonymous because they are not permitted to speak to the press.

Astellas declined to comment. DC Advisory did not return calls requesting a comment.

(Reporting by Jessica Toonkel; Editing by Maureen Bavdek)