Pharmaceutical Company entered into an agreement to acquire IDM Pharma for $2.64 per share in an all-cash tender offer followed by a merger. The company has 25.27 million shares outstanding as of today, putting the value of the deal at $66.7 million.
Millennium: The Takeda Oncology Company, Takeda's business unit responsible for global oncology strategy and development, will have global development responsibility for Mepact®, IDM Pharma's primary asset. Takeda Pharmaceuticals Europe will be responsible for commercializing Mepact in Europe.
IDM Pharma received European marketing approval for Mepact (mifamurtide), a therapy indicated for the treatment of nonmetastatic osteosarcoma following surgical removal of the tumor in children, adolescents, and young adults. The European Commission formally granted a centralized marketing authorization for Mepact earlier this year.
Takeda to Scoop Up Millennium for $8.8B (Apr. 10, 2008)