Takeda to acquire URL Pharma

Wednesday, April 11, 2012 09:53 AM

Takeda America Holdings (a subsidiary of Takeda Pharmaceutical) has agreed to acquire URL Pharma, a Philadelphia-based specialty pharmaceutical company, for an upfront payment of $800 million and future performance-based contingent earn out payments. URL Pharma will be managed by Takeda Pharmaceuticals USA of Deerfield, Ill.

URL Pharma, which had $600 million in revenue in 2011, is expected to contribute significantly to Takeda’s revenues, operating income and free cash flow beginning in fiscal year 2013. Pending the satisfaction of customary closing conditions, the deal is expected to close within 60 days.

Takeda will acquire URL Pharma’s lead product, Colcrys (colchicine), which is used to treat and prevent gout flares. Net sales for Colcrys in 2011 were more than $430 million, and continued growth of Colcrys sales is expected through the product’s lifecycle.

“This acquisition expands Takeda’s gout treatment portfolio and leverages our expertise in primary care,” said Douglas Cole, president, Takeda Pharmaceuticals U.S.A. Colcrys complements Takeda’s position in the gout marketplace with Uloric (febuxostat), used to lower blood uric acid levels in adults with gout. The acquisition strengthens Takeda’s offerings in the U.S. pharmaceutical market by providing patients with more gout management options to treat and prevent gout flares and the high uric acid levels associated with the condition.

Furthermore, Takeda expects the acquisition will contribute to revenues and non-GAAP operating income immediately, with estimated 2012 net sales of more than $550 million and expected continued growth of Colcrys sales through the product’s lifecycle.

The deal also includes agreements stipulating Takeda will make future performance-based contingent earn out payments to URL Pharma’s current owners beginning in 2015. Other economic provisions are not disclosed.

Share:          
CWWeekly

April 20

Christie Clinic, PMG Research's 12th clinical research site, expands its geographic reach north to Illinois

Clinipace acquires Accovion to expand European presence, following an infusion of equity that could lead to more deals

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

April

PSI, INC Research, Chiltern best with sites
Strategic outsourcing prioritizing, improving site relationships

Regulatory compliance an increasing burden on sites
Increased staff time, materials, storage eroding site operating profit

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs