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ONO Pharmaceutical has announced its intention to acquire Nasdaq listed US cancer drug developer Deciphera, for US$2.4bn. This is the largest acquisition ONO has ever made, and is in anticipation of its own cancer drug, Opdivo, going off patent in 2028.
Deciphera has already developed Qinlock, a cancer treatment drug and is developing a drug for blood cancer treatment complications and has developed a treatment for benign tumors in joints which is in the final stages of clinical trials in Europe and the U.S. and is scheduled to be submitted for approval in 2024.
Deciphera is headquartered in Massachusetts and has around 400 employees, including operations in France, Germany, Italy, Spain and Switzerland. There is a UK company too, but it is not trading and does not have any employees.
ONO on the other hand only has one subsidiary in Europe, in the UK, employing around 50 people. ONO says it will expand its development and sales hub on the U.S. East Coast to around 170 people and will set up a hub in Europe.
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