Japan’s Mitsubishi Tanabe Pharma to buy Israeli company NeuroDerm for $1.1 billion

Israeli pharmaceutical company NeuroDerm has been sold to the Japanese pharmaceutical company Mitsubishi Tanabe Pharma for $1.1 billion in cash. “We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients that urgently need new therapies,” said the NeuroDerm CEO.
Photo Credit: NeuroDerm/Channel 2 News

Israeli biomed company NeuroDerm has been sold to the Japanese pharmaceutical company Mitsubishi Tanabe Pharma for $1.1 billion in cash. NeuroDerm Ltd., which is worth $874 million on Nasdaq, was sold for $39 per share and with 230% revenue on the IPO price.

“We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients that urgently need new therapies,” said NeuroDerm CEO Dr. Oded Lieberman. “MTPC has demonstrated development and commercialization expertise in the field of neurology and we are confident that the combination of their resources and the robust data supporting ND0612, our Phase III Parkinson’s disease product candidate, will help make this important new therapy available as broadly and rapidly as possible. The transaction also provides our shareholders with a significant return on their investment in NeuroDerm, reflecting the value that we have created with our pipeline and technologies.”

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The transaction was approved unanimously by the company’s board of directors. NeuroDerm believes that the transaction will be complemented by the fourth quarter of 2017 if the usual regulatory and shareholder approvals are received in time.

NeuroDerm is an Israeli pharmaceutical company that develops new drugs, primarily focusing on Parkinson’s disease. In this field, the company hopes to launch within the next two years a new low-dose drug, which will replace the existing oral drug, and a high-dose drug, which will hopefully replace the need for surgery that implants a drug release device in a patient’s body.



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