Japan's Takeda to Acquire US Biotech Company Syrrx

Japanese drug major Takeda has announced that it will acquire US biotechnology firm Syrrx for US$270mn, as the company attempts to expand its pipeline. The deal, which is expected to complete by the end of March, envisages a payment of JPY20bn (US$191.29mn), which will be accounted as R&D spending. The cash-rich drugmaker has forecast revenues of JPY290bn (US$2.81bn) for the current financial year, although the company now expects to lower this target to account for the new purchase.

The acquisition is an opportunity for Takeda, which has attracted criticism that its development portfolio is declining as a number of drugs come off patent, and that the company is overly reliant on recently released drugs to maintain revenues. Syrrx is expected to expand the Japanese company's oncology pipeline, while also enhancing its already strong presence in the diabetes segment, mainly due to continued strong sales of its Actos treatment.