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Mitsubishi Tanabe Pharma Acquires Medicago for $357M

By Catherine Shaffer
Staff Writer

Monday, July 15, 2013
Osaka, Japan-based Mitsubishi Tanabe Pharma Corp. moved to acquire Canadian vaccine developer Medicago Inc. for $357 million, or $1.16 in cash per share, a premium of about 22.1 percent to the closing price of Medicago's stock on July 11. The acquisition follows a successful strategic alliance in 2012, under which the companies agreed to develop and commercialize at least three vaccines using Medicago's virus-like particle (VLP) technology.

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