Takeda completes acquisition of IDM Pharma

OSAKA, Japan Japanese drug maker Takeda Pharmaceutical Co. completed its tender offer for a company that develops cancer drugs.

Takeda announced Tuesday that it had completed its tender offer to acquire all outstanding shares of IDM Pharma for $2.64 per share, with about 86% of IDM shares tendered.

The two companies originally agreed to the acquisition in May, with Takeda showing particular interest in IDM’s malignant bone cancer drug Mepact (mifamurtide), which European regulators approved in March for marketing in the European Union, Iceland, Liechtenstein and Norway.