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Takeda to acquire IDM Pharma

Takeda has entered into an agreement to acquire IDM Pharma. Under the agreement, Takeda will purchase all of IDM Pharma's outstanding shares for $2.64 per share in an all cash tender offer followed by a merger

Takeda has entered into an agreement to acquire IDM Pharma. Under the agreement, Takeda will purchase all of IDM Pharma's outstanding shares for $2.64 per share in an all cash tender offer followed by a merger. This will add Mepact (mifamurtide), an EU-approved treatment for osteosarcoma, to Takeda's oncology portfolio.

Takeda's business unit responsible for global oncology strategy and development - Millennium: The Takeda Oncology Company - will have global development responsibility for IDM Pharma's primary asset MEPACT (mifamurtide). Takeda Pharmaceuticals Europe will be responsible for commercialising MEPACT in Europe. IDM Pharma received European marketing approval for MEPACT, a therapy indicated for the treatment of non-metastatic osteosarcoma (malignant bone cancer) following surgical removal of the tumour (resection) in children, adolescents and young adults.

The European Commission formally granted a centralised marketing authorisation for MEPACT on March 6, 2009, allowing it to be marketed in the 27 EU member states, as well as in Iceland, Liechtenstein and Norway. "MEPACT delivers a demonstrated survival advantage for young patients with a specific type of bone cancer and provides Takeda with an approved therapy that contributes immediately to our top-line growth," said Erich Brunn, CEO of Takeda Pharmaceuticals Europe.  "We envisage that the product will become a key driver in enhancing our European oncology franchise." 

18th May 2009

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