Simpson Reps Daiichi Sankyo In $805M Plexxikon Buy

Law360, New York (March 1, 2011, 4:05 PM EST) -- Daiichi Sankyo Co. Ltd. said Tuesday it will pay $805 million to buy Plexxikon Inc., a privately held pharmaceutical company based in Berkeley, Calif., with a promising late-stage treatment for metastatic melanoma.

With the acquisition, Daiichi Sankyo said it would obtain co-promotion rights in the U.S. for the treatment, called PLX4032, which is being jointly developed by Plexxikon and Hoffmann-La Roche Inc. Interim results from a Phase III trial demonstrated that PLX4032 met goals for overall survival and progression-free survival among untreated patients with a certain...
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