Takeda to purchase URL Pharma

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Japanese drugmaker Takeda Pharmaceutical Co. Ltd. said Wednesday it will pay $800 million upfront to buy the privately held U.S. gout treatment maker URL Pharma Inc. The deal also may include future performance-based payments. URL is headquartered in Philadelphia, and its lead product is Colcrys, which is used to treat gout flare-ups. The treatment brought in more than $430 million in revenue last year. Takeda expects the deal to close within 60 days.

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