Sidley Austin has advised Japan’s Takeda Pharmaceutical Co. Ltd. on its planned acquisition of a rival U.S. drug maker.

Osaka-based Takeda, whose products range from diabetes medication to insomnia treatments, will pay $800 million for URL Pharma, Inc., a producer of gout medication based in Philadelphia, reports The Am Law Daily.

Takeda already has a gout treatment of its own. But the deal will increase its customers’ treatment options, and allow it to better serve those affected by the arthritis-like condition, which is becoming more prevalent in the U.S., the company said in a statement. The additional revenues will also ease Takeda’s cash flow, it said.

The deal is expected to close in the next two months and represents one of several recent outbound acquisitions by Japanese pharmaceutical companies. Last month, Cleary Gottlieb Steen & Hamilton advised Japanese chemical company Asahi Kasei on a a $2.2 billion deal to buy Chelmsford, Mass.-based Zoll Medical Corp., which turned to Goodwin Procter. And in February, Freshfields Bruckhaus Deringer advised Shionogi & Co. Ltd. on a $172 million deal to acquire a majority interest in China’s C&O Pharmaceutical Technology (Holdings) Ltd.

Chicago corporate partners Robert Verigan and John O’Hare led Sidley’s team advising the buyer, U.S. subsidiary Takeda America Holdings, Inc. The company’s chief compliance officer is Jeanine Jiganti.

Ropes & Gray acted for URL. Partners Marko Zatylny and Paul Kinsella, both based in the firm’s Boston headquarters, led the firm’s team on the deal. URL’s general counsel is Brendan Magrab.

Last year, Takeda turned to CMS Cameron McKenna and the former Edwards Angell Palmer & Dodge for counsel on its $13.7 billion acquisition of Swiss rival Nycomed.

Email: blewis@alm.com