TOKYO (Reuters) – Japan’s Otsuka Pharmaceutical said on Thursday it would pay more than $1 billion to acquire U.S.-based Jnana Therapeutics as it looks to expand its drug pipeline.
Otsuka will pay $800 million to Jnana shareholders along with up to $325 million in development and regulatory milestones, the Japanese company said in a statement. The deal is expected to be completed in the third quarter of this year.
(Reporting by Rocky Swift;Editing by Clarence Fernandez)
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