Shionogi agreed to acquire global rights to edaravone from Tanabe Pharma for $2.5 billion, securing an approved amyotrophic lateral sclerosis (ALS) therapy marketed in the U.S. as Radicava (oral and IV formulations). The transaction transfers marketed revenue streams and complements Shionogi’s rare disease ambitions. The deal creates immediate revenue generation for Shionogi and gives Tanabe a new corporate entity to house the products. For Shionogi, buying an on‑market ALS drug reduces clinical and regulatory risk relative to earlier‑stage acquisitions and can provide a platform for further neurology investments. Buyers and payers will assess long‑term pricing, launch synergies and whether Shionogi will invest in label expansions or new formulations.