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Home Industry News Daiichi Sankyo to acquire Plexxikon

Daiichi Sankyo to acquire Plexxikon

1st March 2011

Daiichi Sankyo is expanding its offering of oncology products via the acquisition of the privately-held US pharmaceutical company Plexxikon.

The transaction has been valued at $805 million (493.7 million pounds), with an additional $130 million in milestone payments potentially set to be paid based on the future launch of certain products.

By acquiring Plexxikon, Daiichi Sankyo gains commercial access to PLX4032, a new metastatic melanoma treatment that is being developed in partnership with Roche and has demonstrated a positive performance in phase III trials.

The firm's portfolio also includes the proprietary Scaffold-Based Drug Discovery Platform and several kinase inhibitors for rheumatoid arthritis and metastatic cancer that are in phase I testing.

Joji Nakayama, chief executive officer of Daiichi Sankyo, said the deal "not only accelerates our entry into the oncology market but … will enable us to achieve our mid and long-term business objectives of providing world-class, innovative pharmaceuticals in core areas of unmet medical need".

In January 2011, the company began a phase III trial of ARQ 197, a new lung cancer treatment it is developing alongside ArQule.ADNFCR-8000103-ID-800434746-ADNFCR

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