BioCentury
ARTICLE | Company News

Ariad, Takeda deal

January 13, 2017 7:55 PM UTC

Takeda will acquire cancer company Ariad for $24 per share in cash. Takeda said the deal gives Ariad an enterprise value of about $5.2 billion. The price is a 75% premium to Ariad's close of $13.74 on Jan. 6, the last trading day before the deal was announced. The partners expect the deal to close by the end of February.

Ariad markets Iclusig ponatinib, which is approved to treat chronic myelogenous leukemia (CML) and Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL). The company reported nine-month sales of $133.3 million for the pan-BCR-ABL tyrosine kinase inhibitor (TKI). Takeda will also add brigatinib (AP26113), a dual inhibitor of anaplastic lymphoma kinase (ALK) and EGFR. The candidate is under Priority Review by FDA to treat metastatic ALK-positive non-small cell lung cancer (NSCLC) in patients who have progressed on Xalkori crizotinib. Its PDUFA date is April 29. Ariad reported $149.7 million in total revenue for the first nine months of 2016. Takeda reported ¥850.8 billion ($8.4 billion) in total revenue for the six months ending Sept. 30, 2016...