Connect with us

Health

Takeda Completes Acquisition of ARIAD Pharmaceuticals

Published

on

By Modupe Gbadeyanka

Takeda Pharmaceutical Company Limited today announced the completion of its acquisition of ARIAD Pharmaceuticals, Inc. for $24.00 per share in cash.

“We are very pleased to have completed the acquisition of ARIAD Pharmaceuticals. The addition of ARIAD’s innovative targeted therapies and research and development capabilities strengthens and diversifies our oncology business, positioning Takeda for sustainable long-term growth in this priority therapeutic area,” said Christophe Weber, president and chief executive officer of Takeda. “We are particularly excited by the global potential of brigatinib, an investigational drug product, which we believe will become a best-in-class ALK inhibitor for non-small cell lung cancer with the potential to achieve peak annual sales of over $1 billion.

“We are also impressed with the swiftness and agility of Takeda and ARIAD employees as they have planned for a successful integration while remaining focused on strategic goals.

“This bodes very well for the future of our combined business, and we look forward to building on this strong start to maximize the benefit of Iclusig and potential of brigatinib for cancer patients.”

“The acquisition of ARIAD is transformational for Takeda Oncology. Iclusig enhances our strong position in haematology in the U.S., and brigatinib has the potential to broaden our solid tumour franchise globally,” said Christophe Bianchi, president of Takeda Oncology.

“There is a strong cultural fit between our two companies, with a shared mission to advance innovative therapies to improve the lives of patients with cancer. We have been working together over the past month to plan for a smooth integration of our businesses and we will work closely with regulatory authorities on our brigatinib market authorization submissions.”

Takeda continues to expect the transaction to be accretive to Underlying Core Earnings by FY2018. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the anticipated brigatinib launch.

Takeda completed the acquisition through a tender offer and subsequent merger of ARIAD with Kiku Merger Co., Inc., a wholly owned subsidiary of Takeda Pharmaceuticals U.S.A. ARIAD is now an indirect wholly owned subsidiary of Takeda.

The tender offer for all of the outstanding shares of ARIAD common stock expired as scheduled, immediately following the offer’s expiration time of 11:59 p.m., Eastern Time, on February 15, 2017. Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has advised Takeda that 158,558,628 shares of ARIAD common stock were tendered, representing approximately 81.4% of the shares outstanding.

All of the conditions to the tender offer having been satisfied, Takeda’s indirect wholly owned subsidiary Kiku Merger Co., Inc. has accepted for payment and will promptly pay for all shares tendered.

The transaction will be funded by approximately $3.5 billion of new debt and the remainder from existing cash. Takeda is expected to remain investment grade and the transaction has no impact on Takeda’s dividend policy.

On February 16, 2017, Takeda completed its acquisition of ARIAD through the merger of Kiku Merger Co., Inc. with ARIAD without a vote of ARIAD’s shareholders pursuant to Section 251(h) if the Delaware General Corporation Law.

As a result of the merger, ARIAD became an indirect wholly owned subsidiary of Takeda. In connection with the merger, all ARIAD shares not purchased in the tender offer have been converted into the right to receive $24.00 per share in cash, without interest (less any required withholding taxes), the same amount paid for all shares validly tendered and not validly withdrawn in the tender offer. ARIAD common stock will cease to be traded on the NASDAQ Global Select Market.

Evercore Partners acted as financial advisor and Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Takeda. J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Lazard acted as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to ARIAD.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Health

Lagos Steps up Mandatory Health Insurance Drive

Published

on

Mandatory Health Insurance Drive

By Modupe Gbadeyanka

Efforts to entrench mandatory health insurance through the Ilera Eko Social Health Insurance Scheme in Lagos State have been stepped by the state government.

This was done with the formal investiture of the Commissioner for Health, Professor Akin Abayomi, and the Special Adviser to the Governor on Health, Mrs Kemi Ogunyemi, as Enforcement Leads of the Lagos State Health Scheme Executive Order and ILERA EKO Champions.

The Commissioner described the recognition as both symbolic and strategic, noting that Lagos is deliberately shifting residents away from out-of-pocket healthcare spending to insurance-based financing.

“We have been battling with how to increase enrolment in ILERA EKO and change the culture of cash payment for healthcare. Insurance is a social safety net, and this mindset shift is non-negotiable,” he said.

He recalled that Lagos became the first state to domesticate the 2022 National Health Insurance Authority (NHIA) Act through an Executive Order issued in July 2024, making health insurance mandatory. He stressed that the decision reflected the Governor’s strong commitment to healthcare financing reform, adding, “When Mr. Governor personally edits and re-edits a document, it shows how critical that issue is to the future of Lagosians.”

Mr Abayomi also warned against stigmatisation of insured patients, describing negative attitudes towards Ilera Eko enrolees as a major barrier to uptake. “If someone presents an Ilera Eko card and is treated as inferior, uptake will suffer. That must stop,” he said, pledging to prioritise insurance compliance during facility inspections. “The key question I will keep asking is: ‘Where is the Ilera Eko?’”

In her remarks, Mrs Ogunyemi, said the enforcement role goes beyond a title, stressing that the health insurance scheme is now law.

“This is about Universal Health Coverage and equitable access to quality healthcare for everyone in Lagos State,” she said, noting that ILERA EKO aligns with the state’s THEMES Plus Agenda.

She commended the Lagos State Health Management Agency (LASHMA) for aggressive sensitisation efforts across the state, saying constant visibility was necessary to address persistent gaps in public knowledge. “People are still asking, ‘What is Ilera Eko?’ ‘Where do I enrol?’ Those questions tell us the work must continue,” she said.

She urged all directors and health officials to mainstream Ilera Eko promotion in every programme and engagement, emphasising that responsibility for health insurance advocacy does not rest with LASHMA alone. “When people come with medical bills, the first question should be: are you insured?” she said, adding that early enrolment remains critical as premiums rise over time.

Earlier, the Permanent Secretary of LASHMA, Ms Emmanuella Zamba, said the investiture marked a critical step in positioning leadership to drive enforcement of the Executive Order across the public service.

“What we are undertaking is pioneering in Nigeria. All eyes are on Lagos as we demonstrate how mandatory health insurance can work,” she said.

Ms Zamba disclosed that enforcement nominees across Ministries, Departments and Agencies have been trained, with a structure in place to ensure compliance beyond the health sector.

According to her, “This initiative cuts across the entire public service, particularly public-facing MDAs, in line with the provisions of the Executive Order.”

She explained that the formal designation of the Commissioner and the Special Adviser as Enforcement Leaders was meant to strengthen compliance, alongside the Head of Service, while also recognising their consistent advocacy for universal health coverage. “This decoration is to amplify their roles and appreciate the leadership they have shown,” she said.

Continue Reading

Health

Tinubu Transmits 24 Bills to Reduce Bloated Health Sector Boards to Senate

Published

on

Tinubu's Portrait

By Adedapo Adesanya

President Bola Tinubu has transmitted 24 bills for consideration of the Senate which seeks to reduce the country’s over-bloated board memberships in the health sector.

The bills were conveyed alongside a letter addressed to President of Senate, Godswill Akpabio, and read at plenary on Tuesday, in line with Section 58(2) of the 1999 Constitution of Federal Republic of Nigeria.

President  Tinubu said the proposed legislations followed a comprehensive review of existing health sector laws by the Attorney-General of the Federation and Minister of Justice.

He said the review, approved by the Federal Executive Council (FEC), was in collaboration with the Minister of Health and Social Welfare, Professor Muhammad Ali Pate.

According to the President, the bills aims at streamlining governance structures across health institutions by reducing over-bloated board memberships.

This, he said, would improve efficiency, effectiveness, and service delivery within the sector.

According to him, the proposed legislations cover a wide range of health institutions and regulatory bodies, including tertiary and teaching hospitals, specialty hospitals, professional councils, and regulatory agencies.

He said the bills transmitted to the Senate includes the National Hospital for Women and Children, Abuja, Federal Medical Centres, National Specialty Hospitals Management Board; Orthopaedic Hospitals Management Board

Others are the National Eye Centre, National Ear Care Centre, Nursing and Midwifery Council of Nigeria; Medical Laboratory Science Council of Nigeria, the National Agency for Food and Drug Administration and Control (NAFDAC) and the National Blood Service Agency, among others.

The President also listed additional legislative proposals such as the Records Officers Registration and Digital Health Bill 2025 and the Federal College of Complementary and Alternative Medicine Bill 2025.

President Tinubu expressed confidence that the Senate would give the bills careful and judicious consideration in the interest of strengthening Nigeria’s health sector.

After the letter accompanying the bills was read, Senate President referred all the 24 bills to the Senate Committee on Rules and Business for further legislative action.

Continue Reading

Health

Africa Wellness Voices Initiative Promotes Mental Wellbeing

Published

on

Africa Wellness Voices Initiative AMVI

By Adedapo Adesanya

A new pan-African mental wellness campaign, the Africa Wellness Voices Initiative (AWVI), is set to launch this February, bringing together voices from across Africa to promote mental wellbeing, reduce stigma, and encourage supportive conversations around mental health.

Led by SereniMind, a mental health and wellness organization, AWVI will spotlight different African countries daily throughout February by sharing short wellness statements from individuals, organizations, youth leaders, and institutions.

Each daily feature will highlight local perspectives on mental wellbeing while reinforcing a shared continental message: mental health matters, it said in a statement shared with Business Post.

Mental health remains a critical but under-addressed issue across Africa. According to the World Health Organisation (WHO), depression affects more than 66 million people in the African Region, while mental health services remain limited in many countries. Young people are particularly affected, facing stigma, lack of awareness, and barriers to accessing support.

AWVI said it aims to address these gaps through a unified, prevention-focused awareness campaign that leverages digital platforms to reach communities across borders. In addition to featured voices, members of the public are encouraged to participate by sharing short wellness videos on social media, fostering grassroots engagement and peer-to-peer support.

Speaking on the initiative, Mr Oyenuga Ridwan, Founder of SereniMind, said: “Across Africa, too many people suffer in silence when it comes to mental health. Africa Wellness Voices Initiative is about unity, bringing together Africans from different countries, ages, and backgrounds to normalize conversations around wellbeing and remind people that seeking support is a strength, not a weakness.”

The February campaign is expected to reach 15–25 African countries, feature 60–120 individuals and organizations, and generate over 500,000 digital impressions across platforms including Instagram, LinkedIn, X (formerly Twitter), and TikTok. The organizers hope to scale the initiative in future editions to include all 54 African countries.

AWVI says it aligns with broader continental and global priorities on health, youth empowerment, and wellbeing, contributing to conversations around preventive mental health, community resilience, and inclusive development.

Through technology, partnerships, and community engagement, SereniMind works to promote wellbeing and reduce stigma around mental health.

Continue Reading

Trending