Japan-based Takeda Pharmaceutical Company has completed the previously announced acquisition of American oncology company ARIAD Pharmaceuticals for $5.2bn.
The acquisition was concluded through a tender offer and subsequent merger of ARIAD with Takeda Pharmaceuticals USA’s wholly owned subsidiary Kiku Merger.
Following the acquisition, ARIAD is now an indirect wholly owned subsidiary of Takeda.
Takeda Pharmaceutical Company president and CEO Christophe Weber said: “The addition of ARIAD’s innovative targeted therapies and research and development capabilities strengthens and diversifies our oncology business, positioning Takeda for sustainable long-term growth in this priority therapeutic area.
“We are particularly excited by the global potential of brigatinib, an investigational drug product, which we believe will become a best-in-class ALK inhibitor for non-small-cell lung cancer with the potential to achieve peak annual sales of over $1bn.”
With the acquisition of ARIAD, two new targeted therapies will expand and improve Takeda’s existing oncology portfolio.
Investigational drug product brigatinib can add a differentiated, global therapy in a genetically defined subpopulation of non-small-cell lung cancer (NSCLC).
By adding Iclusig, Takeda will be able to widen its hematology franchise to include chronic myeloid leukaemia (CML) and a subset of acute lymphoblastic leukaemia (ALL).
Takeda will fund the transaction by approximately $3.5bn of new debt and the remainder from existing cash.
Takeda Oncology president Christophe Bianchi said: “There is a strong cultural fit between our two companies, with a shared mission to advance innovative therapies to improve the lives of patients with cancer.
“We have been working together over the past month to plan for a smooth integration of our businesses and we will work closely with regulatory authorities on our brigatinib market authorisation submissions.”
Image: With the acquisition of ARIAD, two new targeted therapies will improve Takeda’s existing oncology portfolio. Photo: courtesy of Freeimages.com / Marcin Jochimczyk.