Takeda acquires US-based URL Pharma
12 April 2012 00:00 in Pharmaceutical Company Restructures
Takeda has announced the acquisition of URL Pharma, a Philadelphia-based pharmaceutical company, for $800 million (502.09 million pounds).
The privately-held organisation will be managed by Takeda Pharmaceuticals USA, with the acquisition expected to have a significant positive impact on revenues, operating income and free cash flow from 2013 onwards.
URL Pharma's leading product is Colcrys (colchicine), which is used for the treatment and prevention of gout flares and generates more than $430 million in annual sales, a total that is expected to grow further in the coming years.
Gaining the rights to Colcrys complements Takeda's existing gout offering Uloric and allows the company to provide a wider range of treatments to this patient group.
Douglas Cole, president of Takeda Pharmaceuticals USA, said: "We are pleased to have ... Colcrys added to our product portfolio and look forward to further realising our goal of helping patients by providing multiple treatment options to manage the symptoms of acute and chronic gout."
This comes after the firm announced the takeover of cancer specialist Intellikine at the end of last year.
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Story collated for Zenopa by the Axonn News Agency