Takeda of Japan Buys URL Pharma for $800 Million

The Takeda Pharmaceutical Company of Japan agreed on Wednesday to buy URL Pharma for $800 million, plus potential further payments based on the company’s performance.

The deal is the latest in a number of transactions by Japanese companies looking to expand their presence overseas.

Last month, Asahi Kasei acquired Zoll Medical, a health care equipment maker in the United States, for $2.2 billion. Earlier this year, the Sumitomo Mitsui Financial Group bought RBS Aviation Capital from the Royal Bank of Scotland for $7.3 billion.

Under the terms of the deal, Takeda will acquire URL Pharma, based in Philadelphia, whose major product is Colcrys, a treatment for gout.

Net sales of the drug totaled $430 million last year, according to a company statement.

Takeda said the deal would allow the Japanese company to increase its presence in the United States and expected it to contribute about $550 million to the company’s net sales this year.

“This acquisition expands Takeda’s gout treatment portfolio and leverages our expertise in primary care,” said Douglas Cole, president of Takeda Pharmaceuticals U.S.A. “We are pleased to have URL Pharma’s Colcrys added to our product portfolio.”

The deal is expected to close by the end of June.

Goldman Sachs and the law firm Sidley Austin advised Takeda on the deal, while JPMorgan Chase and the law firm Ropes & Gray advised URL Pharma.

Source: http://goo.gl/CdNNo