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DEERFIELD, Ill. — Takeda Pharmaceutical Co. plans to buy URL Pharma Inc. for $800 million.
The companies said Wednesday that the deal, which also includes future performance-based payments to Takeda, is expected to close within the next couple of months. Upon completion of the acquisition, URL Pharma will be managed by Deerfield, Ill.-based Takeda Pharmaceuticals USA Inc.
URL Pharma’s leading product is Colcrys (colchicine), used to treat and prevent gout flare ups. Net sales for Colcrys in 2011 exceeded $430 million, and continued growth of Colcrys sales is expected through the product’s lifecycle, the two companies said.
"This acquisition expands Takeda’s gout treatment portfolio and leverages our expertise in primary care," Douglas Cole, president of Takeda Pharmaceuticals USA, said in a statement. "Gout affects more than 8 million Americans, and the prevalence of gout is rising. We are pleased to have URL Pharma’s Colcrys added to our product portfolio and look forward to further realizing our goal of helping patients by providing multiple treatment options to manage the symptoms of acute and chronic gout in the U.S."
Takeda noted that Colcrys complements its medication Uloric (febuxostat), used to lower blood uric acid levels in adults with gout. With the addition of URL Pharma, Takeda can give patients more choices in gout management for treating and preventing gout flares and the high uric acid levels associated with the condition.
"URL Pharma is pleased to become a part of a leading research-based global pharmaceutical company," stated Richard Roberts, chairman and chief executive officer of Philadelphia-based URL Pharma, which had total sales of almost $600 million in 2011.
