Japanese firm buys US pharmaceutical company

(AP)—A Japanese pharmaceutical company is acquiring LigoCyte Pharmaceuticals in a $60 million deal to expand its vaccine division, Takeda Pharmaceutical Co. announced.

LigoCyte's work on a vaccine to prevent norovirus was identified as having potential for global impact, said Rajeev Venkayya, executive vice president of Takeda Pharmaceutical's vaccine business division.

"Norovirus is the most common cause of outbreaks of gastroenteritis and foodborne illness in the U.S., and is responsible for 200,000 deaths each year, most of them in developing countries," Venkayya said. "With the only norovirus vaccine in clinical trials today, Takeda will be in a position to change this picture."

Approval for the vaccine will be sought in the U.S., Europe and other countries based on where the illness is most prevalent. The Centers for Disease Control and Prevention said norovirus infects 21 million people in the U.S. each year.

Takeda, based in Osaka, Japan, had sales of about $19.2 billion in the last fiscal year. It invests about $3.8 billion in research and development each year, officials said. Its wholly-owned subsidiary, Takeda America Holdings Inc., is purchasing Bozeman, Montana-based LigoCyte, a privately held company, in a deal that is expected to close in the next several weeks.

The acquisition is "a demonstration of Takeda's dedication to preventing illness in children and adults around the world," Venkayya said in a statement.

"It's a great opportunity for us at LigoCyte to be associated with Takeda," CEO Donald P. Beeman told the Bozeman Daily Chronicle (bit.ly/SHCwbD) on Thursday.

"Together, we believe we have the right combination of expertise and dedication to bring our norovirus vaccine to market. We look forward to supporting Takeda's vaccine research and development efforts and contributing to the long-term success of Takeda's Vaccine Business Division," Beeman said in a statement.

LigoCyte will remain in Bozeman for the foreseeable future and intends to retain the management team and its 37 employees, Beeman said.

Takeda created its vaccine division in January as part of its effort to adjust the company to a changing pharmaceutical market.

LigoCyte also is working on several other vaccines.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Vaccine against epidemic gastroenteritis being tested

Dec 09, 2011

(Medical Xpress) -- A new vaccine is being tested in the US that may protect against the norovirus, which causes "stomach flu" or acute viral gastroenteritis, that can occur in confined living settings such as cruise ships, ...

Oracle buys 'cloud' service firm RightNow

Oct 24, 2011

Enterprise software giant Oracle said Monday it had struck a deal to buy RightNow Technologies, which helps companies manage their cloud computing activities, for $1.5 billion.

Sharp annual profit more than quadruples

Apr 27, 2011

(AP) -- Sharp said its annual profit more than quadrupled due to brisk demand for liquid crystal display screens but warned the earthquake and tsunami that hit Japan last month will have a "broad" impact on its business.

Panasonic returns to profit in 1Q on cost cutting

Jul 31, 2012

(AP) — Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over ...

Chipmaker ASML sees Q2 profit drop on sales fall

Jul 18, 2012

(AP) — ASML Holding NV, the largest supplier of manufacturing equipment to computer chip makers, says its net profit fell to €292 million ($359 million) in the second quarter from €432 million in the same period ...

Recommended for you

FDA to start regulating lab-developed tests

15 hours ago

(AP)—The Food and Drug Administration announced Thursday it will begin regulating laboratory-developed tests, a growing class of medical diagnostics that have never before been subject to federal oversight.

Determine patient preferences by means of conjoint analysis

Jul 29, 2014

The Conjoint Analysis (CA) method is in principle suitable to find out which preferences patients have regarding treatment goals. However, to widely use it in health economic evaluations, some (primarily methodological) issues ...

User comments