Daiichi Sankyo has agreed to buy Plexxikon for up to US$935 M in what is yet another example of an overseas acquisition by a Japanese pharmaceutical company looking to prosper in the US oncology market. With the acquisition, Daiichi will gain Plexxikon’s late-stage drug candidate, PLX4032, which will be a strong addition to the company’s nascent cancer pipeline. Plexxikon will receive a one-time upfront payment of US$805 M and is also eligible to receive near-term milestone payments of US$130 M related to the approval of PLX4032.