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Mitsubishi Tanabe Pharma Is Buying Neuroderm in a $1.1 Billion Bid to Expand Its U.S. Business

July 24, 2017

Via: Fortune

Japan’s Mitsubishi Tanabe Pharma (MTZPY, -0.14%) is acquiring Israeli drug maker Neuroderm for $1.1 billion in cash as part of a strategy to grow its business in the U.S.

The Japanese drugmaker said in a statement Monday it would leverage Neuroderm’s Parkinson’s disease drug product that has commenced clinical trials in the U.S. and Europe and is expected to launch in financial year 2019.

It said the acquisition is intended to help it “achieve its U.S. sales target of 80 billion yen by FY2020”.

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