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Mitsubishi Tanabe completes acquisition of NeuroDerm

Mitsubishi Tanabe Pharma Corp. completed the $1.12 billion acquisition of Israel-based pharmaceutical company NeuroDerm Ltd.

Under the deal, a unit of Mitsubishi Tanabe was merged with and into NeuroDerm, with the latter being the surviving corporation and a wholly owned subsidiary of the Japanese pharmaceutical company.

NeuroDerm's shareholders were entitled to receive $39 in cash per share. NeuroDerm's ordinary shares will cease to trade on the Nasdaq global market.