NEW YORK - Japan’s Takeda Pharmaceutical Co., maker of the world’s top-selling diabetes treatment, will pay as much as $1 billion to Amylin Pharmaceuticals Inc. to codevelop the US company’s obesity treatments.
Takeda, based in Osaka, will pay $75 million up front for medicines, including Amylin’s experimental therapy, that combines the diabetes drug Symlin with a form of leptin, a hormone implicated in weight loss, Takeda and San Diego-based Amylin said.
The purchase may help Takeda buffer losses after Actos, its top seller with $4 billion generated for the year ended March 31, loses patent protection in January 2011.
Last year, Takeda bought Millennium Pharmaceuticals of Cambridge for $8.8 billion.
“The purchase will surely boost Takeda’s product lineup,’’ said Takashi Akahane, a health care analyst at Tokai Tokyo Research Center Co. in Tokyo. “Still, this drug alone won’t be enough to make up for the sales decline in Actos, and the company needs to make more acquisitions.’’