Japan-based pharmaceutical company Takeda Pharmaceuticals has sealed the $800m acquisition of URL Pharma.
Takeda will pay $800m up front, but the deal also includes future performance-based contingent earn out payments.
Takeda will immediately assume responsibility for the marketing and promotion of URL's lead product Colcrys, used in the treatment of flares associated with gout, adding to the company's existing gout treatment portfolio, which currently includes Uloric.
Whereas Colcrys is used to treat and prevent flares associated with gout, Uloric is used to lower blood uric acid levels in adults suffering from the condition.
Net sales for the drug in 2011 were in excess of $430m and Takeda president Douglas Cole expects the acquisition to provide multiple therapeutic offerings for the disease.
"The acquisition of URL Pharma is a meaningful opportunity that delivers on our commitment to strengthen Takeda's presence in the US by adding products that amplify our expertise in primary care," added Cole.
Takeda has forecasted that the acquisition will result in an immediate increase in revenue, with Colcrys expected to contribute net sales of more than $550m during the 2012 financial year, whilst also continuing to grow throughout the product's lifecycle.