News
2 Mar 2011
Daiichi Sankyo To Acquire Plexxikon
Japanese drugmaker Daiichi Sankyo said Tuesday it will buy California-based Plexxikon and the acquisition will help it obtain co-promotion rights in the U.S. for the late-stage oncology drug PLX4032.
Daiichi Sankyo Co. has reached a deal to acquire Plexxikon, Inc., a drug discovery and development company, for $805 million up-front, with milestone payments associated with the approval of PLX4032 totaling an additional $130 million. The transaction is subject to customary closing conditions.
Plexxikon’s lead program is PLX4032 is an oral drug that targets the oncogenic BRAF mutation present in about half of melanoma cancers and about 8% of all solid tumors. Plexxikon and development partner, Roche, plan to file for market approval in the U.S. and Europe this year, along with a companion diagnostic. Following the acquisition, Daiichi Sankyo will retain the U.S. co-promotion rights for PLX4032.
"Wit
Plexxikon’s lead program is PLX4032 is an oral drug that targets the oncogenic BRAF mutation present in about half of melanoma cancers and about 8% of all solid tumors. Plexxikon and development partner, Roche, plan to file for market approval in the U.S. and Europe this year, along with a companion diagnostic. Following the acquisition, Daiichi Sankyo will retain the U.S. co-promotion rights for PLX4032.
"Wit
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