Daiichi To Buy Plexxikon For $805M

California-based pharmaceutical company, Plexxikon, will be acquired by Japanese drugmaker, Daiichi Sankyo.

California-based pharmaceutical company, Plexxikon, will be acquired by Japanese drugmaker, Daiichi Sankyo. Daiichi will pay about $805 million on a debt-free basis, which will be funded internally. Daiichi will also pay an additional $130 million based on near-term launch milestones achieved by Plexxikon’s oncology product, PLX4032, in malignant melanoma. The deal is expected to be concluded after clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act.

Click here for the release from PR Newswire.