Japan's Takeda to Acquire U.S. Drug Startup for 4 B. Dlrs

Economy

Tokyo, Dec. 13 (Jiji Press)--Japan's Takeda Pharmaceutical Co. <4502> said Tuesday that it will acquire a wholly owned subsidiary of U.S. pharmaceutical startup Nimbus Therapeutics LLC for 4 billion dollars.

Under the deal, to be completed by the end of March 2023, Takeda will buy the entire stake in the subsidiary, Nimbus Lakshmi Inc., which is developing a drug for psoriasis, a skin disease that causes flaky patches.

Takeda will pay an additional 1 billion dollars if the subsidiary's annual sales exceed 4 billion dollars and a further 1 billion dollars if the sales top 5 billion dollars.

Takeda said it will disclose the impact of the acquisition on its earnings as necessary.

The final clinical trial for the drug is expected to begin in 2023. The substance is also considered effective against other immune-mediated diseases.

[Copyright The Jiji Press, Ltd.]

Jiji Press