Otsuka's Taiho to Buy Swiss ADC Developer Araris Biotech

MT Newswires Live

03/18

Otsuka Holdings (TYO:4578) said its unit, Taiho Pharmaceutical, will acquire Swiss biotech firm Araris Biotech for up to $1.14 billion to strengthen its antibody-drug conjugate (ADC) pipeline, according to a Monday filing on the Tokyo Stock Exchange.

Taiho will pay $400 million upfront and potential additional milestone payments of up to $740 million. The deal is expected to close in the first half of 2025.

Price (JPY): $7712.00, Change: $+94, Percent Change: +1.23%

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