October 22, 2017 | Israeli-based drugmaker NeuroDerm has been acquired by Japanese drug company Mitsubishi Tanabe Pharma Corporation for $1.1 billion. The deal was first made public in July but was finalized last week, as announced on October 18, 2017. Mitsubishi Tanabe says it hopes the deal will help it achieve sales of over $700 million in the US by 2020. NeuroDerm was delisted from Nasdaq yesterday and Mitsubishi will pay NeuroDerm shareholders $39 in cash per share. NeuroDerm is a clinical-stage company that develops treatments for central nervous system disorders, specifically Parkinson’s disease. The company expects to submit an application to the U.S. Food and Drug Administration in 2018 and receive approval in 2019. It was founded in 2003 in Rehovot by Eli Heldman. NeuroDerm will keep its name and become a subsidiary of Mitsubishi Tanabe, which will merge an existing part of its company into it.