Takeda drug 66.7 million dollar acquisition Idmpharma

In the early hours of May 19 Beijing time, IDM Pharma (IDMI) stock prices rose sharply.　　Earlier, the company announced that Japan Takeda Pharmaceutical Co., Ltd. (Takeda Pharmaceutical) agreed to buy it at a price of 66.7 million dollars, the acquisition of cash. As of 12:28 noon (0:28 Beijing Time), the company's shares soared 92 cents to 2.62 U.S. dollars, or 55%.　　Under the agreement, Takeda drugs will buy the california-based Irvine Company at a price of $2.64 a share, a bid that overflowed 55% from the company's Friday closing close of 1.70 dollars.　　The company currently has only 25.3 million shares of common stock in circulation. By acquiring the company, Takeda drugs will be mepact for the cancer treatment program.　　The drug has been accepted in Europe for treatment of osteosarcoma. Bruon Brunn, chief executive of Takeda Pharmaceuticals, points out that for young patients with some kind of bone cancer, mepact can significantly improve their survival.　　The drug immediately brings significant revenue growth to the company. Last year, Takeda drugs bought Millennium Pharmaceuticals with 8.8 billion of dollars in cash, gaining ownership of the cancer-resistant drug velcade.