The US subsidiary of Japanese drug major Shionogi (TKO: 4507) has entered into an agreement to acquire all currently marketed products from USA-based Victory Pharma, including seven treatments for pain and two for infectious diseases, including the latter’s lead product Naprelan (naproxen sodium). A couple of years ago Shionogi made a $150 million offer to acquire Victory, but it did not proceed to completion due to “unforeseen” events that occurred after the merger transaction was initiated (The Pharma Letter May 28, 2009).