Takeda America seeks to acquire Calif. drug maker

OSAKA, Japan The U.S. subsidiary of a Japanese pharmaceutical company plans to acquire a California drug maker.

Takeda Pharmaceutical Co. announced Monday that it would acquire all outstanding shares of Irvine, Calif.-based IDM Pharma. The subsidiary, Takeda America Holdings, has established Jade Subsidiary Corp. to carry out the transaction.

IDM recently won approval in Europe to market Mepact (mifamurtide), a medicine for treating post-operative non-metastatic osteosarcoma, a bone cancer, in children.

“Mepact delivers a demonstrated survival advantage for young patients with a specific type of bone cancer and provides Takeda with an approved therapy that contributes immediately to our top-line growth,” Takeda Pharmaceuticals Europe CEO Erich Brunn stated. “We envisage that the product will become a key driver in enhancing our European oncology franchise.”