Takeda Pharmaceutical Co. has entered an agreement to acquire URL Pharma, a privately held pharmaceutical company based in Philadelphia, PA, for an upfront payment of $800 million and future performance-based milestones. Upon closing, URL Pharma will be managed by Takeda Pharmaceuticals U.S.A., Inc.

URL Pharma had revenues of nearly $600 million in 2011. Its lead product Colcrys, used to treat and prevent gout flares, had sales of more than $430 million for that year.

“This acquisition expands Takeda’s gout treatment portfolio and leverages our expertise in primary care,” said Douglas Cole, president, Takeda Pharmaceuticals U.S.A., Inc. “Gout affects more than eight million Americans, and the prevalence of gout is rising. We are pleased to have URL Pharma’s Colcrys added to our product portfolio and look forward to further realizing our goal of helping patients by providing multiple treatment options to manage the symptoms of acute and chronic gout in the U.S.”

“URL Pharma is pleased to become a part of a leading research-based global pharmaceutical company,” said Richard H. Roberts, M.D., Ph.D., chief executive officer, and chairman of the board, URL Pharma.