January 10, 2017 - 17:25 AMT
PanARMENIAN.Net - Japanese pharmaceutical giant Takeda has agreed to buy U.S. drugmaker Ariad Pharmaceuticals for $5.2bn, BBC News reports.
Ariad specialises in making medicines for patients with rare forms of leukemia and other rare cancers.
The takeover was approved by the boards of both companies but still needs the green light from U.S. regulators.
Takeda's offer is valued at more than 75% above Ariad's closing share price on Friday - but some analysts says a rival bid cannot be ruled out.
Cancer drugs are appealing to large pharmaceutical firms, who are prepared to pay high...
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