Takeda to Acquire Millennium for $8.8 Billion

April 11, 2008
Chitra Sethi

Chitra Sethi, Managing Editor, BioPharm International

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.

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.

Takeda release