Takeda America Holdings, a wholly owned subsidiary of Takeda Pharmaceutical Company, has acquired URL Pharma for an upfront payment of $800m.
Takeda will begin the integration of URL Pharma and will right away assume responsibility for the marketing and promotion of URL's Colcrys (colchicine) for the treatment and prevention of flares associated with gout.
The agreement even includes an agreement for future performance-based contingent earn out payments.
Takeda Pharmaceuticals USA president Douglas Cole said the acquisition of URL Pharma is an opportunity to strengthen the company's presence in the US by adding products that amplify its expertise in primary care.
"This commitment allows us to broaden our focus for patients by providing multiple therapeutic offerings for gout, which affects more than eight million Americans." Cole added.
Takeda Pharmaceuticals USA will manage URL Pharma and report to Douglas Cole.
The acquisition will result in an immediate increase in revenue with estimated FY 2012 net sales of more than $550m, and continued growth of Colcrys sales is expected throughout the product's lifecycle, according to Takeda.