by rocky swift
Tokyo: Japan’s Ono Pharmaceutical Company on Tuesday announced the acquisition of $ 2.4 billion Deciphera Pharmaceuticals A “first step” towards expansion into the US and European markets.
why is it important?
With this deal, Ono Pharma Joins Japanese rivals Takeda Pharmaceutical and Astellas Pharma, which have recently spent big to replenish their pharmaceutical pipeline,
key quote
“We have to reach Phase 1 and 2 globally, but to start registering sales at a faster pace, we need to get pipeline from outside. This acquisition This is the first step in that direction,” Ono Pharma CEO Gyo Sagar said in an online briefing.
“First after this M&AIt doesn’t mean we will do second or third, but we will always keep an eye on getting good compounds from the outside and will make sure to go in if the opportunity arises,” he said.
Context
Ono Pharma is known globally for its blockbuster cancer drug Opdivo, which is sold in the US by partner Bristol-Myers Squibb. The drug is expected to lose patent protection in key markets by 2028.
The purchase includes Deciphera’s oral drug Quinloc to treat a type of gastrointestinal cancer, which received full US Food and Drug Administration approval in 2020.
Another major pipeline possibility is vimseltinib, a treatment for a type of tumor found in some joints.
by numbers
Ono Pharma offered $25.60 per share in cash, a premium of 74.7 percent over US-based Deciphera’s previous closing price.
Quinlock’s global sales in 2023 were $163 million. Ono Pharma expects Quinloc and Vimseltinib together to peak global sales of $1 billion.
market reaction
Ono Pharma shares fell 1% on Tuesday after the deal was announced on Monday, a Japanese holiday. Deciphera shares surged 73 percent.
(Editing by Ross Russell)
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