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SDP Completes Tolero Buy To Build Oncology Ahead Of Key Expiry

 
• By Ian Haydock

Sumitomo Dainippon Pharma has completed the acquisition of US specialty company Tolero for up to $780m in a move that boosts the mid-sized Japanese firm's presence in oncology ahead of a looming major patent expiry for its top-selling product.

US Japan

Sumitomo Dainippon Pharma Co. Ltd. (SDP) has paid $200m upfront for Lehi, Utah-based Tolero Pharmaceuticals Inc., and agreed further milestone payments of up to $430m related to the progress of Tolero's pipeline, plus up to $150m in post-launch commercial milestones based on net sales of commercialized Tolero-sourced products.

The deal, first announced in late December, immediately gives DSP a portfolio of six development-stage molecules in oncology, including hematologic...

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