Kirkland Advises Transcend Therapeutics on Sale to Otsuka
Kirkland & Ellis advised Transcend Therapeutics, Inc. on its sale to Otsuka Pharmaceutical Co., Ltd., which Otsuka will fully acquire through its wholly owned subsidiary Otsuka America, Inc. The acquisition is expected to be completed in the second quarter of 2026, subject to the fulfillment of customary closing conditions and required procedures. Under the terms of the agreement, Otsuka will pay $700 million to Transcend shareholders upon closing of the acquisition, and up to $525 million in additional contingent consideration based on future sales milestones related to assets in development, for a total potential consideration of $1.225 billion.
Read the transaction press release
The Kirkland team included corporate lawyers Graham Robinson, Laura Knoll, Ben Jiang, Eric Solomine and Cameron Smith; technology & IP transactions lawyer Shellie Freedman; antitrust & competition lawyer Maria Raptis; executive compensation lawyer Tim Nelson; and tax lawyers Dean Shulman and Liam Murphy.
