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|Articles|April 11, 2008
Takeda to Acquire Millennium for $8.8 Billion
Author(s)Chitra Sethi
Takeda Pharmaceutical Company Limited (Osaka, Japan) will acquire Millennium Pharmaceuticals, Inc. (Cambridge, MA), for approximately $8.8 billion through a cash tender offer of $25.00 per share.
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Takeda Pharmaceutical Company Limited (Osaka, Japan) will acquire Millennium Pharmaceuticals, Inc. (Cambridge, MA), for approximately $8.8 billion through a cash tender offer of $25.00 per share. Through the deal, Takeda will acquire Velcade, primarily used as a second-line treatment for multiple myeloma and other drugs in Millennium’s pipeline for oncology and inflammatory disease.
After completion of the acquisition, Millennium will become a wholly owned subsidiary of Takeda and will continue operations in Cambridge, Massachusetts, as a standalone business unit. Millennium will be known as Millennium Pharmaceuticals, Inc., a Takeda Company.
The acquisition of Millennium is part of Takeda’s strategy to develop its oncology portfolio in the areas of oncology discovery, development, regulatory affairs, and commercialization.
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