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Japan/Israel: Mitsubishi Tanabe buying NeuroDerm for US$1.1b

By  |  July 24, 2017

On July 24, the sale of clinical stage pharmaceutical company NeuroDerm Ltd to Mitsubishi Tanabe Pharma Corp was announced. The deal showed a 79% premium over the stock price on June 9 and a 17% premium over the closing price on July 21.

The sale is priced at approximately US$1.1 billion and is still waiting for shareholder approval as well as the standard regulatory approvals.

The companies expect to close the transaction by the end of 2017 and NeuroDerm CEO, Oded Lieberman, stated that he expects the deal to allow for a quicker release of a new Phase III Parkinson’s disease treatment.

Full Content: Business Insider

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