Takeda Pharmaceutical Co Ltd has announced its intent to buy oncology company Ariad Pharmaceuticals Inc in a $5.2 billion deal.
According to a Reuters report, Takeda, which has been searching for a multi-billion dollar acquisition to reduce its domestic sales dependence, agreed to pay $24 for each Ariad share. Also in the report, SunTrust Robinson analysts believe that the scarcity of commercial-stage oncology assets means that Ariad could see more bidders.
Recently, Ariad had come under fire for the pricing of its Leukemia drug Iclusig. However, the drug is expected to generate sales of up to $180 million for Takeda.
In November, Takeda's deal to buy Valeant's Salix fell apart after pricing concerns. The following month, Takeda made plans to bolster its oncology offering by expanding its Irish plant to support the manufacturing of Ninlaro (ixazomib).
Read the Reuters report