Japanese pharmaceutical company Takeda Pharmaceutical Company Limited announced via a press release today that it is acquiring Cambridge-based oncology company ARIAD Pharmaceuticals, Inc. in an all-cash deal worth over $5 billion.  Takeda expects the deal to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions.

According to the press release, Takeda believes the deal will significantly enhance Takeda’s global oncology portfolio and generate immediate and long-term revenue growth.  Takeda highlighted two cancer drugs as being attractive value drivers: Iclusig® (ponatinib), a globally commercialized leukemia drug, and brigatinib, an investigative lung cancer drug that Takeda expects to receive approval in the U.S. in the first half of 2017.  Takeda also stated that it intends to leverage ARIAD’s research and development capabilities and platform.

Stay tuned to the Big Molecule Watch for further developments.