Singapore, Jan. 2 -- Japan's Shionogi & Co. will acquire a newly established company that Tanabe Pharma Corporation will create to hold the rights to RADICAVA ORS(R) (edaravone) and IV RADICAVA. Tanabe Pharma plans to form this new entity, and Shionogi intends to purchase 100% of its shares. The agreement between Shionogi and Tanabe Pharma has been signed. As part of the transaction, a new business company established by Tanabe for RADICAVA in the US will become a wholly owned subsidiary of Shionogi Inc.

RADICAVA ORS is approved by the US Food and Drug Administration(FDA) and other regulatory agencies around the world for the treatment ofamyotrophic lateral sclerosis (ALS), a progressive neurodegenerative diseasefor which there is no cur...