Takeda to acquire Millennium

Takeda Pharmaceutical has announced that it has entered into a definitive agreement to purchase Millennium Pharmaceuticals for a total sum of $8.8 billion (4.5 billion pounds) through a cash tender offer of $25 per share.

The boards of directors of both companies have unanimously approved the transaction, upon completion of which, Millennium will become a wholly-owned subsidiary of Takeda Pharmaceutical.

With this acquisition, Takeda claims it will accelerate the realisation of its vision of becoming an international market leader in the field of oncology, with the companies’ complementary capabilities in research, development and marketing potentially forming a powerful engine of drug development.

Yasuchika Hasegawa, president of Takeda Pharmaceutical, said: “Millennium greatly strengthens Takeda’s global oncology portfolio, led by the flagship product Velcade and further enhances its pipeline with clinically differentiated, high-quality product candidates.”

He added that he is pleased that the president and chief executive officer of Millennium Deborah Dunsire and the current management team intend to stay on and lead the company, while adding that Takeda would look to retain Millennium employees, who he credits for forming an innovative and entrepreneurial culture at the firm.

In December 2007, Takeda Research Investment announced that it had entered into a strategic partnership with Curidium to enhance the development of Homomatrix as a treatment for major depressive disorder.