TOKYO, May 18, 2009 (Kyodo News International) -- Takeda Pharmaceutical Co. (OOTC:TKPHY) said Monday it will launch a friendly tender offer to acquire all outstanding shares of IDM Pharma (NASDAQ:IDMI) Inc. of the United States.

The 20-day, all-cash tender offer will begin within a week and Takeda will buy each common IDM share for $2.64, Takeda said, adding that it has set aside $75 million for the buyout bid.

The California-based drug maker received European approval in March to market its EMPACT drug for the treatment of malignant bone cancer, Takeda said.

The leading Japanese pharmaceutical company is hoping to increase sales in Europe by acquiring IDM.

Holders of around 55 percent of outstanding IDM shares have complied with the tender offer, Takeda said.