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Takeda to acquire Ariad Pharmaceuticals
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Takeda Pharmaceutical Company Limited will acquire Ariad Pharmaceuticals Inc.
Takeda will buy all outstanding shares of Ariad at a cost of $24 per share, making the deal worth approximately $5.2 billion.
Both companies’ boards of directors unanimously approved the transaction.
The deal will allow Takeda to expand its oncology portfolio with the addition of brigatinib — an investigational drug designed to treat certain patients with non–small cell lung cancer — and ponatinib (Iclusig), which is approved for certain patients with chronic myeloid leukemia or Philadelphia chromosome–positive acute lymphoblastic leukemia.
Brigatinib, expected to receive FDA approval this year, could exceed $1 billion in annual sales.
“The acquisition of Ariad is a unique opportunity that will enable us to positively impact the lives of more patients worldwide, advance our strategic priorities and generate attractive returns for our shareholders,” Christophe Weber, president and CEO of Takeda, said in a press release. “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.”
The transaction — subject to regulatory approvals — is expected to close by the end of February.
“We are very pleased to combine with Takeda, which will allow us to not only accelerate our mission to discover, develop and deliver precision therapies to patients with rare cancers, but also deliver immediate and meaningful value to our shareholders through a substantial cash premium,” Paris Panayiotopoulos, president and chief executive officer of Ariad, said in the press release. “This exciting transaction is a testament to the hard work and dedication of ARIAD’s talented team of employees.”