Japan pharmaceutical giant Takeda buys U.S. cancer specialist AriadJanuary 10, 2017 - 17:25 AMT PanARMENIAN.Net - Japanese pharmaceutical giant Takeda has agreed to buy U.S. drugmaker Ariad Pharmaceuticals for $5.2bn, BBC News reports. Ariad specialises in making medicines for patients with rare forms of leukemia and other rare cancers. The takeover was approved by the boards of both companies but still needs the green light from U.S. regulators. Takeda's offer is valued at more than 75% above Ariad's closing share price on Friday - but some analysts says a rival bid cannot be ruled out. Cancer drugs are appealing to large pharmaceutical firms, who are prepared to pay high prices for companies with promising products in the pipeline. This was demonstrated in August, when San Francisco-based Medivation was bought by Pfizer Inc for $14bn. Takeda is looking for new drugs to help its future sales, with top-selling blood cancer drug Velcade likely to come up against competition from lower-priced generics this year. Patents on some of its other key products expire in 2020, meaning others can replicate the medicines. Photo: Science Photo Library Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |