(JNS.org) Japan’s Mitsubishi Tanabe Pharma Corporation (MTPC) acquired the Israeli pharmaceutical company NeuroDerm for $1.1 billion this week, in the largest-ever acquisition of an Israeli healthcare company.
The deal is part of MTPC’s business strategy to grow its U.S.-based operations, and was agreed upon unanimously by NeuroDerm’s board of directors.
The Israeli pharmaceutical company specializes in developing new drug delivery methods and devices for central nervous system disorders, and hopes to launch two new groundbreaking products during the next two years.
“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…will help make this important new therapy available as broadly and rapidly as possible,” he added.