Japanese drugmaker Takeda acquired Boston-based Ariad Pharmaceuticals, a biotech company specializing in cancer drugs, in a deal worth up to $5.2 billion.
This agreement strengthens Takeda’s oncology offerings by giving it ownership of two cancer treatments, Iclusig and Brigatinib.
Iclusing is approved as a last-resort treatment chronic myeloid leukemia and for acute lymphoblastic leukemia patients with a rare genetic abnormality, according to Xconomy. Brigatinib is intended for non-small cell lung cancer, but an approval decision from the Food and Drug Administration is expected at the end of April.
Analysts predict Iclusing could become a $500 million plus-product at its peak while both medications could bring in $2 billion in U.S. sales in the next decade, wrote FiercePharma.
“This is a very exciting time for Takeda as we will broaden our hematology portfolio and transform our global solid tumor franchise through the addition of two innovative targeted therapies. Opportunities to acquire such high-quality, complementary targeted therapies do not come often, and we are very excited about the potential for this transaction to benefit patients, our shareholders and other stakeholders,” said Takeda’s president and CEO Christophe Weber in a statement.
Essentially, this acquisition diversifies Takeda’s cancer portfolio as its top-selling blood cancer drug Velcade is predicted to face generic competition. Ariad wins with this arrangement because Takeda has a history of successful global oncology drug launches too.
This deal is expected to close by the end of next month.
Filed Under: Drug Discovery