Contact Us   |   Print Page   |   Sign In   |   Join
News and Press: Member Organization News

ARIAD Pharmaceuticals to be Bought by Takeda

Wednesday, April 26, 2017   (0 Comments)
Posted by: Kate Oesterle
Share |

Takeda, a Japanese pharmaceuticals company, is buying ARIAD Pharmaceuticals, a Cambridge Massachusetts-based company for $24 per share. Value of the deal is about $5.2 billion, expected to close in February. Christophe Weber, CEO of Takeda, said that, for Takeda, it is an exciting time as they will broaden their hematology portfolio and transform their franchise of global solid tumor by the aggregation of two targeted innovative therapies. Acquisition of opportunities to such complementary high quality targeted therapies do not often come, he said, and they are too excited about benefitting patients, stakeholders and shareholders by this transaction’s potential.

Boards of directors of both companies approved the transaction unanimously, which is estimated to close by February end, 2017, subject to other closing customary conditions and required regulatory approvals. ARIAD’s 6.6% holder of common shares, Sarissa Capital along with board of directors of ARIAD have consented to milden their shares to pursuant of Takeda to the offer. Christophe Weber said that acquiring ARIAD is an opportunity unique that will enable them to impact positively more lives of patients worldwide, originate attractive returns for their shareholders and advance their strategic priorities. Chief executive officer and president of ARIAD, Paris Panayiotopoulos, said that they are very glad to get together with Takeda which would allow them to accelerate their mission to discover, develop and deliver therapies that are precise to patients with rare cancers, as well as deliver meaningful and immediate value to their shareholders through a significant cash premium. He also said that this exhilarating transaction is a result of dedication and hard work of the talented team of employees of ARIAD, they have a huge respect for Takeda and he believes that their shared commitment to research-driven cultures and innovation will result into a smooth transition.

Acquiring ARIAD gets two targeted innovative therapies that will enhance and expand Takeda’s present oncology portfolio. For Takeda shareholders, this transaction acts as a compelling opportunity. It will bring considerable revenue potential in long-term, provide immediate revenue and deliver synergy savings. Funding of this transaction will be from the remnants of existing cash and a new debt of $4.0 billion, thus growing together to create a new change in their pharmaceutical world.

 

View source article via la2news.org here


Creating Value
by delivering business-critical resources & bottom line savings
Building Networks
by connecting Michigan's bio-industry one member at a time
Growing Talent
by creating opportunities that develop people & build organizations
Membership Software Powered by YourMembership  ::  Legal