Japanese pharmaceutical firm Takeda says its US subsidiary is to purchase URL Pharma, a privately held pharmaceutical company headquartered in Philadelphia, Pennsylvania, for US$800m.
The deal will also include and future performance-based contingent earn out payments.
Upon completion of the transaction, URL Pharma will be managed by Takeda Pharmaceuticals USA.
The acquisition will contribute significantly to Takeda’s revenues, operating income, and free cash flow from 2013, the firm said.
URL Pharma had revenues of nearly $600m in 2011. Its leading product is Colcrys (colchicine) for the treatment and prevention of gout flares. Net sales for Colcrys in 2011 were more than $430m, and continued growth is expected through the product’s lifecycle. The firm employs 500 people plus a contracted sales force of around 350.
‘This acquisition expands Takeda’s gout treatment portfolio and leverages our expertise in primary care,’ said Douglas Cole, president, Takeda Pharmaceuticals USA. ‘Gout affects more than eight million Americans, and the prevalence of gout is rising.’
Colcrys complements Takeda’s Uloric (febuxostat), used to lower blood uric acid levels in adults with gout, allowing the firm to provide multiple treatment options to manage acute and chronic gout in the US.