Mitsubishi Tanabe to pay $1.1bn for Parkinson's drug formulator Neuroderm
Mitsubishi Tanabe Pharma has agreed to pay $1.1bn (€943m) to acquire Parkinson’s disease focused formulation and drug-device developer Neuroderm Ltd.
Neuroderm’s lead product candidate – ND0612 – is a liquid formulation combining levodopa and carbidopa. The production – which is in Phase III trials in the US - is designed for continuous administration using specially developed, belt worn pump.
The Israel-based firm has a second Parkinson’s disease drug ND0701 (apomorphine) in development, as well as a transdermal CNS disease medication called ND0801 (nicotide and opipramol).
