Takeda to buy U.S. cancer drug maker ARIAD Pharmaceuticals
Takeda Pharmaceutical Co. said Monday it will buy Massachusetts-based ARIAD Pharmaceuticals Inc. in a deal valued at $5.2 billion to expand its cancer treatment business.
The major Japanese pharmaceutical firm said it will expand into lung cancer treatment and increase leukemia drug offerings through the deal, which has been approved by ARIAD's board and will be closed by the end of February.
ARIAD, which has a leukemia drug called Iclusig on the market and a lung cancer drug expected to be launched later this year, posted $119 million in revenue and a $231 million net loss in 2015.
Takeda, facing generic competition and patent expirations of key products in coming years, has been strengthening its oncology business and expanding its presence overseas, acquiring Millennium Pharmaceuticals Inc. in 2008 and Nycomed in 2011.