# Otsuka Buys the 'Boring' Version of MDMA — and Pays $1.2B for It

- slug: otsuka-buys-the-boring-version-of-mdma-and-pays-12b-for-it
- date: 2026-03-27
- category: Biotech & Life Sciences

Otsuka Pharmaceutical is acquiring Transcend Therapeutics, a New York-based clinical-stage biotech, for $700 million upfront with up to $525 million in milestone payments — [a deal valued at $1.225 billion](https://www.prnewswire.com/news-releases/otsuka-pharmaceutical-to-acquire-transcend-therap...

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