Japan-based Shionogi & Co. has announced that it will be purchasing the rights and assets of the oral and intravenous drug Radicava (edavarone) from Tanabe Pharma Corporation.
Through the deal, Shionogi will receive Radicava ORS and IV Radicava. Radicava ORS is approved by the U.S. FDA and other regulatory agencies around the world for the treatment of amyotrophic lateral sclerosis (ALS), a progressive neurodegenerative disease for which there is no cure and few treatment options. Radicava ORS, along with a previously available intravenous formulation, have been used to treat more than 20,000 people with ALS in the U.S. to date.
Tanabe will also establish a new company for Radicava in the U.S. that will become a wholly-owned subsidiary of Shionogi.
The buyout will cost Shionogi $2.5 billion upfront and may incur company royalties on future sales, subject to certain conditions. It is expected to be immediately be accretive in 2026, resulting in around $700 million in annual sales worldwide.