Reuters: Market News: UPDATE 1-Japan's Takeda to buy URL Pharma for $800 mln

Reuters: Market News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Japan's Takeda to buy URL Pharma for $800 mln Apr 11th 2012, 10:04 Wed Apr 11, 2012 6:04am EDT TOKYO, April 11 (Reuters) - Japan's largest drugmaker Takeda Pharmaceutical Co Ltd said on Wednesday that it will buy U.S. gout-drug maker URL Pharma Inc for $800 million plus additional payments based on future performance. Takeda and rival Japanese drugmakers have been aggressively pursuing overseas acquisitions. In May last year, Takeda agreed to buy Swiss drugmaker Nycomed AS for 9.6 billion euros ($13.7 billion at the time). Philadelphia-based URL Pharma recorded revenue of about $600 million for 2011. Its leading product is Colcrys, a drug used for treatment and prevention of gout flares, the two companies said in a joint statement. Net sales of Colcrys totalled more than $430 million last year. Takeda is paying cash to Elliott Associates and other URL Pharma shareholders and will make performance-based contingent earn out payments from 2015, the companies said. Takeda hired Goldman Sachs as financial adviser and Sidley Austin as legal adviser. JP Morgan and Ropes & Gray were URL Pharma's financial and legal advisers, respectively.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions