Takeda America Holdings has entered into an agreement to purchase URL Pharma for an upfront payment of $800m and future performance-based contingent earn out payments.

With the completion of the acquisition, URL Pharma will be managed by Takeda Pharmaceuticals USA.

Pending the satisfaction of customary closing conditions, the deal is expected to close within 60 days.

Takeda Pharmaceuticals USA president Douglas Cole said the acquisition expands Takeda's gout treatment portfolio and leverages its expertise in primary care.

"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 US," Cole added.