Send to printer »

GEN News Highlights : May 18, 2009

Takeda to Acquire IDM Pharma for $66.7M

IDM’s Mepact will bolster Takeda’s oncology franchise.

Takeda 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.

....

Related News

Takeda to Scoop Up Millennium for $8.8B (Apr. 10, 2008)