Incyte to acquire Ariad's European operations
US drugmakers Incyte (Nasdaq: INCY) and Ariad Pharmaceuticals (Nasdaq: ARIA) have entered into a definitive agreement for Incyte to acquire Ariad’s European operations. Incyte shares dipped 0.98% to $70.00, while Ariad gained 2.87% to $7.18 by late morning trading.
At the close of the transaction, the companies will also enter into a license agreement whereby Incyte will obtain an exclusive license to develop and commercialize Iclusig (ponatinib) in Europe and other select countries. Ponatinib generated $112.5 million in net sales worldwide last year.
The planned acquisition of a fully-integrated and established pan-European team of 125 employees, including medical, sales and marketing personnel, will further Incyte’s strategic plan and accelerate the establishment of its operations in Europe, helping to optimize clinical development and maximize the potential of future European launches for Incyte’s portfolio of products in development.
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