Takeda completes URL Pharma acquisition
DEERFIELD, Ill. — Drug maker Takeda Pharmaceutical has finished its purchase of URL Pharma, the companies said Monday.
Japan-based Takeda announced in April that it would buy URL for $800 million. The acquisition, through local subsidiary Takeda Pharmaceuticals USA, gives Takeda control of the gout drug Colcrys (colchicine). URL will report to Takeda Pharmaceuticals USA president Douglas Cole, and the acquisition is expected to boost 2012 sales by $550 million, Takeda said.
"The acquisition of URL Pharma is a meaningful opportunity that delivers on our commitment to strengthen Takeda's presence in the U.S. by adding products that amplify our expertise in primary care," Cole said. "This commitment allows us to broaden our focus for patients by providing multiple therapeutic offerings for gout, which affects more than 8 million Americans."
Colcrys, which is the sonly single-ingredient oral colchicine product with approval from the Food and Drug Administration, had 2011 sales of more than $430 million, according to the companies.