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Mitsubishi Tanabe Pharma to buy Israel's Neuroderm for $1.1 billion

TOKYO/TEL AVIV (Reuters) - Japan's Mitsubishi Tanabe Pharma Corp (4508.T) has agreed to buy Israeli drug maker Neuroderm (NDRM.O) for $1.1 billion in cash as part of a strategy to grow its business in the United States.

The Japanese drugmaker said on Monday it was particularly attracted by Neuroderm's Parkinson's disease drug that is in advanced clinical trials in the United States and Europe and is expected to go on sale in the 2019 financial year.

It said the deal was intended to help it "achieve its U.S. sales target of 80 billion yen" ($722 million) by its 2020...


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