Skadden Arps Slate Meagher & Flom is advising Tokyo-based Otsuka Pharmaceutical on its acquisition of clinical-stage biotechnology company Transcend Therapeutics in a deal potentially valued at USD1.2 billion.
The Skadden team included Tokyo-based partner Mitsuhiro Kamiya, Palo Alto partner Mike Mies and Asia-Pacific counsel Louis Artime. Morgan Stanley provided financial advice to Otsuka.
Under the terms of the agreement, Otsuka will pay USD700 million to Transcend shareholders once the deal is complete, which is expected in the second quarter of 2026. Otsuka could pay up to USD525 million in additional contingent consideration based on future sales milestones related to assets in development.
Kirkland & Ellis, led by partners Graham Robinson and Laura Knoll, together with Pillsbury Winthrop Shaw Pittman partner Ron Fleming Jr, served as counsel for New York-based Transcend.
Centerview Partners offered financial advice to Transcend, with a team comprising partners Andrew S Rymer and Jason Zuckerbrod, and principal Tommaso Verderame.
