Mitsubishi Tanabe Pharma entered into an agreement to acquire Israel-based NeuroDerm for US$39 per share in cash that values the company at US$1.1 B. NeuroDerm is involved in the development of novel formulations of existing drugs for Parkinson’s disease and other central nervous system (CNS) disorders. NeuroDerm’s leading drug candidate is ND0612, a reformulation of levodopa + carbidopa being developed in the US as well as EU in Phase III studies. The acquisition is part of Mitsubishi’s broader strategy to expand its presence in the US market with the launch of the amyotrophic lateral sclerosis drug, Radicava® (edaravone).