japans-takeda-pays-88-billion-for-millennium

Japan's Takeda pays $8.8 billion for Millennium

Takeda's purchase of US oncology firm Millennium represents Japan's largest outbound pharmaceuticals acquisition, but shareholders and analysts are questioning the offer price.

By Sameera Anand

April 13, 2008

JapanÆs Takeda Pharmaceutical will buy Nasdaq-traded Millennium Pharmaceuticals for $8.8 billion. Takeda is offering shareholders of Millennium $25 a share to buy 100% of the outstanding equity, a more than 50% premium to the price at which Millennium traded on Wednesday, April 9.

Millennium is expected to become TakedaÆs centre for oncology worldwide and will continue to operate in Massachusetts, as a standalone business unit.

Millennium is a biopharmaceutical company with sales of approximately $528 million in 2007. One of the key drugs in MillenniumÆs portfolio is Velcade, an injectable drug, which is a market leader in treatment for patients with multiple myeloma cancer of the plasma cells. This is being co-developed by Millennium...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222