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Business
Takeda Buys U.S. Cancer Drug Firm
by Jean-François Tremblay
May 25, 2009
| A version of this story appeared in
Volume 87, Issue 21
Takeda Pharmaceutical will pay roughly $75 million to acquire IDM Pharma, a cancer drug discovery and development firm located in Irvine, Calif. IDM's main asset is mifamurtide, a drug used to treat malignant bone cancer in children and young adults after the tumor has been removed. Although the European Commission approved mifamurtide in March, IDM has so far failed to secure regulatory approval in the U.S. Takeda says its U.S. oncology subsidiary Millennium will run IDM.
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