Acquisitions · Pharmaceuticals (CNS)
Otsuka buys Cambridge drug developer Neurovance for about $100 million upfront
- Buyer
- Otsuka Pharmaceutical (via Otsuka America) (Tokyo)
- Target
- Neurovance, Cambridge, Massachusetts
- Value
- About $100M upfront plus up to $150M in milestones
- Status
- Agreed on March 2, 2017 (US time); completed in the second quarter of 2017.
- Date
- 2017-03-03
Otsuka Pharmaceutical agreed, through its US unit Otsuka America, to buy Neurovance, a Cambridge, Massachusetts drug developer. Otsuka paid about $100 million upfront and agreed to pay up to $150 million more if development milestones are met.
Why it matters
The deal adds a central nervous system drug candidate to Otsuka's pipeline, an area where the company already has a strong US business.
Sources
Kakehashi M&A News home
