Shionogi in Acquisition of Global Rights to Tanabe Pharma Corporation’s RADICAVA ORS® and IV RADICAVA

Cleary Gottlieb is representing Shionogi & Co. Ltd. (Shionogi) and its U.S. subsidiary Shionogi Inc. in the $2.5 billion acquisition of a newly established company that Tanabe Pharma Corporation (Tanabe Pharma) will create to hold the rights to RADICAVA ORS® (edaravone) and IV RADICAVA. Additionally, Shionogi may pay a royalty on future sales, subject to certain conditions.

The transaction is aimed at establishing a strong commercial platform in rare disease for Shionogi to support future launches. RADICAVA ORS is approved by the U.S. Food and Drug Administration (FDA) and other regulatory agencies around the world for the treatment of amyotrophic lateral sclerosis (ALS), a progressive neurodegenerative disease for which there is no cure and few treatment options. RADICAVA ORS, along with a previously available intravenous formulation, has been used to treat more than 20,000 people with ALS in the U.S. to date.

The Cleary M&A team includes partners Benet O’Reilly and Kim Spoerri, senior attorney Isa Julson Barahona, associates Lina Dayem and Myron Atta-Mensah, and international lawyer Yuka Hirano. Partner Daniel Ilan and associates Samantha Simmons and Francesca Huth are advising on intellectual property matters. Partner Maureen Linch and associates Adriana De Bartolo and Banu Dzhafarova are advising on tax matters. Partner Julia Petty and associates Gretchen Dougherty and Rabab Alajmi are advising on executive compensation and benefits. Partner Kenneth Reinker is advising on antitrust.

Cleary Gottlieb previously advised Shionogi on its purchase of Qpex Biopharma Inc. for $100 million in 2023.