Jones Day is advising Sumitomo Dainippon Pharma Co. Ltd. in its acquisition of Tolero Pharmaceuticals, Inc. by Dainippon Sumitomo Pharma America Holdings, Inc., Sumitomo Dainippon Pharma's U.S. subsidiary, for up to $780 million. Sumitomo Dainippon Pharma will make an upfront payment of $200 million to the shareholders of Tolero on closing of the acquisition, and thereafter it will make development milestone payments up to $430 million related to the compounds being developed by Tolero based on its progress. Furthermore, after the launch, Sumitomo Dainippon Pharma will also make commercial milestone payments up to $150 million, based on the net sales of the compounds.

In addition to M&A representation, Jones Day is providing health care, employee benefits, tax, antitrust, intellectual property, and labor advice regarding this transaction.

For additional information about this matter, please contact: Jonn R. Beeson, Scott Jones
Client(s): Sumitomo Dainippon Pharma Co. Ltd.
Practice(s): M&A, Health Care, Antitrust & Competition Law, Employee Benefits & Executive Compensation, Tax, Intellectual Property, Labor & Employment
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