Mit­subishi Tan­abe bags Neu­ro­Derm and its PhI­II Parkin­son’s pro­gram for $1.1B

Mit­subishi Tan­abe is gob­bling up the Is­raeli biotech Neu­ro­Derm $NDRM, of­fer­ing an ear­ly morn­ing taste of the M&A ac­tiv­i­ty that has been woe­ful­ly short in the in­dus­try so far this year.

The Japan­ese phar­ma com­pa­ny agreed to pay $1.1 bil­lion for the biotech, which has been de­vel­op­ing a lead pro­gram for con­tin­ued dos­ing of lev­odopa/car­bidopa for Parkin­son’s pa­tients. That’s $39 a share, or a 79% pre­mi­um over the un­af­fect­ed ear­ly June price.

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