Issue Date: May 25, 2009
Takeda Buys U.S. Cancer Drug Firm
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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