Shionogi completed its $2.5 billion acquisition of global rights to Radicava from Tanabe Pharma, adding one of the few approved treatments for ALS to its portfolio .
Shionogi completed the acquisition of global rights to Radicava (edaravone), an approved treatment for amyotrophic lateral sclerosis.
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The acquisition builds on the originally announced terms of the agreement back from December 22, 2025, and will see Shionogi pay $2.5 billion to Tanabe Pharma Corporation, while establishing itself as a commercially active rare disease company in the process.2
The deal transfers all intellectual property and sales rights for Radicava across major countries and regions from Tanabe Pharma to Shionogi, with additional markets to follow.1 Along with the product rights, Shionogi is absorbing the Radicava commercial team, programs, and platforms from Tanabe, giving it immediate rare disease infrastructure and an established relationship with the ALS patient community.2
The transaction is expected to add approximately $700 million in annual global sales and be immediately accretive in fiscal year 2026. Additional royalties on future sales may also apply under certain conditions.1
Radicava (edaravone) is one of the few approved treatments for ALS, a progressive and fatal neurodegenerative disease for which no cure exists. Originally discovered and developed by Tanabe Pharma, edaravone was first approved in Japan and South Korea in 2015 before receiving FDA approval for the U.S. market.1
The oral suspension formulation, Radicava ORS, was approved by the FDA in 2022 and granted Orphan Drug Exclusivity in 2024 for its contribution to patient care by eliminating the burden of intravenous administration.1 To date, Radicava has treated more than 22,000 people with ALS in the U.S., accumulating over 2.8 million days of therapy and prescribed by more than 2,800 healthcare providers.1
Radicava ORS is taken daily for 14 consecutive days followed by a 14-day drug-free period in the initial treatment cycle, with subsequent cycles consisting of 10 days of treatment within each 14-day window. Each dose must be taken in the morning after overnight fasting.
“Radicava is an important option for people with ALS and we are committed to serving the community’s needs today and working toward future innovations in care,” said Nathan McCutcheon, president and CEO of Shionogi Inc. “We are excited to continue growing our rare disease capabilities with the addition of the talented cross-functional team from Tanabe. The Radicava team will complement our efforts to establish a best-in-class rare disease franchise in the U.S. and ensure readiness to deliver future innovations to patients
The acquisition marks a strategic inflection point for Shionogi, a Japanese pharmaceutical company better known for its infectious disease portfolio. The Radicava deal gives it a revenue-generating rare disease asset, a U.S. commercial organization, and the capabilities needed to pursue additional rare disease programs, all in a single transaction.1
Isao Teshirogi, CEO of Shionogi, framed the deal as progress toward the company's 2030 Vision and a commitment to patients with serious unmet needs. "With Radicava we are not only acquiring a medication, we are also acquiring an established rare disease capability and assuming responsibility for a relationship with the ALS community," he said.
The deal continues Shionogi’s streak of acquisitions to begin 2026, as the company began the year
