NeuroDerm Bought for $1.1B

Mitsubishi Tanabe Pharma Corporation is acquiring Israeli pharma firm NeuroDerm for $1.1 billion. NeuroDerm is a clinical stage company developing drug-device combinations for central nervous system (CNS) disorders. The deal is expected to close in the fourth quarter of 2017.

"We believe that this transaction will yield important benefits for NeuroDerm’s shareholders and the Parkinson’s disease patients that urgently need new therapies," said Oded Lieberman, chief executive officer, NeuroDerm. "MTPC has demonstrated development and commercialization expertise in the field of neurology and we are confident that the combination of their resources and the robust data supporting ND0612, our Phase III Parkinson’s disease product candidate, will help make this important new therapy available as broadly and rapidly as possible."