Takeda grabs Ariad, expands oncology portfolio in $5.2B buyout
Takeda has taken the next step in its global restructuring, bagging Ariad Pharmaceuticals for $5.2 billion and paying a whopping 74% premium for its stock.
The deal gives Japan’s Takeda a bigger cancer drug portfolio, with an already approved Iclusig on the market and a looming decision on brigatinib, which Takeda believes has blockbuster potential.
Ariad has been making progress since longtime CEO Harvey Berger was forced out in the spring of 2015, a move triggered by a brewing shareholder revolt that broke out after Iclusig was briefly jerked out of the market and then allowed back on with a more limited reach. The company finished its rolling submission for brigatinib last summer, looking to get an OK to sell the ALK inhibitor to patients who no longer respond to Pfizer’s Xalkori.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.