Pharma BD Deal Intelligence
Ono Pharmaceutical acquired Deciphera Pharmaceuticals for approximately $2.4 billion ($25.60/share cash, a 74.7% premium), announced April 29, 2024 and closed June 11, 2024 via tender offer, making Deciphera a wholly owned Ono subsidiary. The deal gave Ono its lead commercial asset QINLOCK (ripretinib), a switch-control KIT/PDGFRA inhibitor approved for fourth-line GIST (full-year 2023 net product revenue $159.1M), plus the late-stage candidate vimseltinib, an oral CSF1R inhibitor for tenosynovial giant cell tumor (TGCT), establishing Ono a U.S. and European commercial oncology footprint. The vimseltinib thesis has since been realized: the FDA granted full approval of ROMVIMZA (vimseltinib) for symptomatic TGCT on February 14, 2025 -- the second approved drug from Deciphera's switch-control kinase platform -- followed by European Commission approval on September 17, 2025, where it is the first and only authorized TGCT therapy. The acquisition's growing-portfolio rationale is intact and de-risked, with two approved commercial products across the U.S. and EU.